New York–based Stonepeak Infrastructure Partners is looking to raise $10 billion for its fourth flagship renewables infrastructure fund.
The fund, which will follow the strategy of its predecessors in the fund series, is expecting to hold a first close by next April.
The firm could not be reached to comment on its fundraising efforts.
Last July, Stonepeak closed its third infrastructure fund with $7.2 billion in commitments, exceeding its target of $5 billion. Like its predecessors, the fund had a diversified portfolio; it included 11 investments in transportation, communication, midstream energy, power and utilities businesses.
The fund received commitments from more than 100 separate institutions, spanning North America, Europe, Asia, the Middle East, Australia and Latin America.
“Our strategy has proven to be very effective, and we are patient, value-oriented and disciplined with respect to the opportunities we pursue,” said Stonepeak co-founder Trent Vichie. “We focus foremost on downside protection, targeting businesses with sustainable competitive advantages and with the propensity to compound investment returns over the long term. We target situations which we believe offer relative value and the potential for outperformance, to which we can bring our industrial experience, transaction structuring skills and hands-on asset management approach.”
Founded in 2011, Stonepeak invests in businesses comprised of hard assets with leading market positions. As of June 30, 2018, the firm managed more than $15 billion in capital for investors.
