Stonepeak racks up $3.3bn for Asia infrastructure fund

• As a result of this fund-closing, Stonepeak now has a total of $61.1 billion assets under management
• Simpson Thacher & Bartlett LLP acted as fund counsel
• Headquartered in New York, Stonepeak targets infrastructure and real assets

Stonepeak has closed its Asia infrastructure fund at $3.3 billion, beating its $3 billion target.

The fund’s limited partners include pensions, endowments, insurance companies, and other large institutions, many of which are investing with Stonepeak for the first time.

The fund seeks to construct a diversified portfolio of infrastructure assets predominantly within the communications, transport and logistics, and energy sectors in the Asia-Pacific region.

On the fundraising, Hajir Naghdy, senior managing director and head of Asia and the Middle East at Stonepeak, said in a statement, “The strong demand for this fund underscores Asia’s compelling long-term economic and demographic tailwinds, and is a resounding acknowledgement by our partners, including many of the world’s most sophisticated investors, that Stonepeak’s team is well positioned to capitalize on the associated investment opportunities.”

As a result of this fund-closing, Stonepeak now has a total of $61.1 billion assets under management.

Simpson Thacher & Bartlett LLP acted as fund counsel.

Headquartered in New York, Stonepeak targets infrastructure and real assets.