Stonepeak has closed its flagship Stonepeak Infrastructure Fund IV (SIF IV) at $14 billion.
The fund was oversubscribed, with demand exceeding its hard cap of $12 billion, according to the firm. It attracted a diverse range of more than 150 global investors from 23 countries. Roughly 57 percent of total commitments came from existing partners.
The previous fund, Stonepeak Infrastructure Fund III, closed at $7.2 billion in 2018.
SIF IV will invest in the United States across the infrastructure spectrum in sectors such as renewable and gas-fired power generation, utilities, midstream energy, communications, water, and transportation assets. The fund has committed 40 percent of its total capital commitments to 10 investments.
The final close brings Stonepeak’s assets under management to $46 billion.