Stonepeak has completed the final close of Stonepeak Global Renewables Fund (GRF), a $2.75 billion fund focused on investing in a diversified portfolio of renewable-energy assets in developed markets around the world.
Commitments came from a diverse group of more than 40 global investors from 15 different countries, and they included existing Stonepeak investors as well as new relationships.
GRF surpassed its original $1.25 billion target in early 2021 and closed at its increased $2.75 billion hard cap several months later. Stonepeak said the increase in fund size represents the accelerating scale of the opportunity in renewables, as both government policy and private-sector corporate strategy become increasingly supportive of energy transition.
“Renewable energy provides a critical pathway to rapidly decarbonize the global electricity sector and is an increasingly attractive area for investment given continued economic and public policy tailwinds globally,”
