Articles from Stonepeak

Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, today announced the acquisition of six logistics assets totaling 2.3 million square feet in Houston, Texas.

Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, today announced that it has entered into a definitive agreement to acquire Forgital Group (“Forgital” or the “Company”), a leading manufacturer of advanced forged and machine-finished components for aerospace and industrial end markets, from global investment firm Carlyle (NASDAQCG).

Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, today announced that it has acquired Fleet Companies (“Fleet”), a leading regional trailer dealership and leasing company.

Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, today announced that it has agreed to acquire Boundary Street Capital, LP (“Boundary Street”), a leading specialist private credit investment manager focused on the digital infrastructure, enterprise infrastructure software, and technology services sectors in the lower middle market. Boundary Street currently has more than $700 million of capital commitments.

Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, today announced the acquisition of nine logistics assets totaling 1.8 million square feet in Jacksonville, Florida.

Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, today announced the opening of an office in Abu Dhabi, United Arab Emirates (UAE), having received the Financial Services Permission (FSP) from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) to arrange and advise on investments in the UAE. The firm plans to utilize its local presence to expand its network for potential investment opportunities, better serve its partners in the region, and continue to build key relationships.

Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, today announced that Miescor Infrastructure Development Corporation (MIDC), its joint venture with Meralco Industrial Engineering Services Corporation (MIESCOR), has completed its combination with Phil-Tower Consortium Inc (PhilTower). The combined company (JVCo) will continue to be backed by a consortium of MIDC and PhilTower’s existing investors including Stonepeak, MIESCOR, Macquarie Capital, and Global Network Inc.

Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, today announced the acquisition of two logistics assets totaling 1.1 million square feet in Fort Worth, Texas from institutional investors advised by J.P. Morgan Asset Management.

Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, today announced the final close of its Stonepeak Opportunities Fund (the “Fund”). Following strong investor demand, the Fund was meaningfully oversubscribed relative to its original $2.5 billion target and closed at its revised hard cap of $3.15 billion, with commitments from a diverse group of global investors.

Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, today announced that it has executed definitive documentation with American Tower (NYSEAMT) subsidiary CoreSite to form a new joint venture (“CoreSite DevCo JV”) to develop, construct, and operate an 18 megawatt (“MW”) data center in Denver, Colorado (“DE3”), with CoreSite operating DE3. Stonepeak is expected to hold 85% of the equity of the CoreSite DevCo JV, with CoreSite holding the remaining 15% ownership interest. The investment is being made primarily through the Stonepeak Opportunities Fund, which targets both control and structured capital solutions across North America and Europe.

Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, today announced that it has entered into a definitive agreement to acquire all outstanding common shares of Arvida Group Limited (“Arvida” or the “Company”) (NZX: ARV), one of New Zealand’s largest retirement and aged care providers, for US$1.03 (NZ$1.70) per share in an all-cash transaction valued at approximately US$1.25 billion (NZ$2 billion) including the assumption of debt.

Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, today announced that it has appointed Yuichi Jimbo as Chairman, Japan, effective as of July 1, 2024. Yuichi will be based in Tokyo and will help to support the execution of Stonepeak’s investment strategies in Japan in addition to the firm’s broader business in APAC.

Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, and CHC, a leading battery energy storage system (“BESS”) project development and electricity data management company headquartered in Singapore, today announced the creation of a platform focused on the development, construction, and operation of energy storage projects in Japan.

Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, today announced that it has acquired a three asset, 1.7 million square foot rail-served logistics portfolio in Chicago, Illinois from CenterPoint Properties.

Ørsted has signed a transaction with Stonepeak, a leading alternative investment firm specialising in infrastructure and real assets, whereby Ørsted will divest to Stonepeak an equity ownership stake in a portfolio consisting of four US onshore wind farms with a total capacity of 957 MW. In continuation of Ørsted’s farm-down programme, this transaction represents the company's first partnership with Stonepeak and the second major farm-down of multiple assets in the US.

Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, today announced the successful final close of Stonepeak Asia Infrastructure Fund (“the Fund”) with $3.3 billion in total capital commitments. The Fund, representing Stonepeak’s first dedicated Asia strategy, exceeded its target of $3.0 billion having received robust demand from new investors and existing investors in other Stonepeak funds.

Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, today announced that it has reached an agreement with Dominion Energy (NYSED) to acquire a 50% interest in its Coastal Virginia Offshore Wind project (“CVOW” or “the Project”) through the formation of an offshore wind partnership. The Project is expected to be the largest offshore wind farm in the U.S. and one of the largest offshore wind farms globally upon completion.

Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, today announced that it has appointed Sung Eun Ahn as Chairman, Korea, effective February 1, 2024. Based in Seoul, Sung Eun will help to support Stonepeak’s APAC business and the diligent execution of the firm’s investment strategies in the region.

Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, today announced that Jack Howell and Luke Taylor have been named Co-Presidents of the firm, a promotion from their former roles as Co-Chief Operating Officers. Stonepeak Co-Founder Michael Dorrell remains Chief Executive Officer and Chairman.

Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, today announced that it has completed the acquisition of a 49% interest in Cellnex Sweden and Cellnex Denmark (“Cellnex Nordics”), the Swedish and Danish operations of Cellnex Telecom (“Cellnex”), Europe’s largest independent operator of wireless telecommunications infrastructure for a total value of c. EUR 730 million, of which EUR 558 million is recognized upfront.

Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, today announced that it has completed the sale of Omni Industrial Campus, a three-building, 1.3 million square foot logistics portfolio in Charleston, South Carolina. Financial terms of the transaction were not disclosed.

Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, and Cellnex Telecom (“Cellnex”), Europe’s largest independent operator of wireless telecommunications infrastructure, have reached an agreement for Stonepeak to acquire a 49% interest in Cellnex Sweden and Cellnex Denmark (“Cellnex Nordics”) for EUR 730 million, equivalent to a multiple of 24x 2024E EBITDAaL. Cellnex will continue to manage the day-to-day business of Cellnex Nordics and consolidate the results of its operations.

Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, today announced that Blue Owl’s GP Strategic Capital platform (formerly known as Dyal Capital), a leading capital provider for institutional alternative asset managers, has made a passive, minority investment in Stonepeak. Terms of the transaction were not disclosed.

Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, today announced that Michael Leitner has joined the firm as a Senior Managing Director. Based in the firm’s New York office, Michael will help lead the continued buildout of Stonepeak’s Credit investing capabilities.

Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, today announced the recapitalization of euNetworks, a Western European bandwidth infrastructure company. The recapitalization is being effectuated as a sale of euNetworks anchored by a Stonepeak managed vehicle alongside strategic investments from APG Asset Management (APG) and Investment Management Corporation of Ontario (IMCO).

Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, today announced the successful completion of its previously announced transaction to acquire a 50 percent interest in KAPS, a Canadian natural gas liquids (“NGL”) pipeline system connecting Northwest Alberta to energy hubs in Edmonton and Fort Saskatchewan. Keyera Corp. (TSX: KEY) will continue to own the remaining 50 percent of KAPS and operate the asset.

Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, and Spirit Super, an Australian industry super fund, today announced the successful completion of their previously announced acquisition of Australia’s GeelongPort Pty Limited (“GeelongPort”). Under the terms of the agreement, Stonepeak, on behalf of its managed funds and accounts, holds a majority 70% interest in the entity and Spirit Super has a 30% stake.

Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, and Spirit Super, an Australian industry super fund, today announced the signing of a definitive agreement to acquire 100% of Australia’s GeelongPort Pty Limited (“GeelongPort”). GeelongPort is Victoria’s second largest port located approximately 75 kilometers southwest of Melbourne within Victoria’s largest regional city, Geelong. Under the terms of the agreement, Stonepeak, on behalf of its managed funds and accounts, will hold a majority 70% interest in the entity and Spirit Super will have a 30% stake.

Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, today announced that certain of its associated investment vehicles have formed a strategic investment partnership with Equalbase, an integrated development and management platform focused on the logistics sector across Asia Pacific led by a team with more than 40 years of industry experience.

Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, today announced that certain of its associated investment vehicles have signed definitive agreements to acquire 2,180 telecom towers and related passive infrastructure from Globe Telecom, Inc. (Globe) (PSE: GLO) for a total consideration of approximately $472.2 million USD (P26.2 billion). Stonepeak is entering into the transaction through Miescor Infrastructure Development Corporation (MIDC), a joint venture between Meralco Industrial Engineering Services Corporation (MIESCOR) and Stonepeak. MIESCOR is a subsidiary of Manila Electric Company (Meralco) (PSE: MER), the largest private sector electric distribution utility company in the Philippines.

Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, and Inspired Education Group (“Inspired” or the “Company”), the leading global group of premium schools, today announced a long-term partnership pursuant to which Stonepeak will make a €1.0bn minority equity investment in the Company.

Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, today announced that Daniel Wong has joined the firm as a Senior Managing Director and Head of Europe. Based in the firm’s London office, Daniel will oversee Stonepeak’s continued expansion into Europe and build on Stonepeak’s existing strengths in infrastructure, energy transition, and ESG. Daniel will also join the firm’s Executive Committee.

Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, today announced the successful closing of its previously announced equity recapitalization of Cologix, the largest private interconnection and hyperscale edge platform in North America. At $3.0 billion in equity value, the transaction represents the largest single asset continuation vehicle raised in digital infrastructure to date. Cologix also completed a $1.65 billion asset-backed securitization earlier this year to support continued growth.

Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, today announced the successful final close of Stonepeak Infrastructure Fund IV (the “Fund” or “Fund IV”) with $14 billion of aggregate capital commitments. Following strong investor demand, the Fund was significantly oversubscribed, with demand exceeding its hard cap. Stonepeak Infrastructure Fund III, which closed with $7.2 billion in capital commitments after targeting $5 billion, was raised in 2018.

Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, today announced that it has entered into a definitive agreement to acquire Rinchem Company Inc. (Rinchem), a specialty warehousing and logistics company with a global network of chemical and gas logistics capabilities.

Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, today announced the recapitalization of Cologix, the largest private interconnection and hyperscale edge platform in North America. The recapitalization is being effectuated as a sale of Cologix by Stonepeak Infrastructure Fund II LP and co-investors (Fund II) to Stonepeak-managed vehicles comprising a combination of existing Fund II investors who have chosen to reinvest in the business in partnership with a number of new third-party investors.

Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, today announced that it has pledged $1,000,000 to Son of a Saint, the New Orleans-based nonprofit organization dedicated to inspiring mentorship and transforming the lives of fatherless boys. The total financial commitment will be distributed over the next four years to help Son of a Saint expand its programming activities, further accelerating the organization’s ability to deliver on its mission.

Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, today announced that it has joined the Net Zero Asset Managers initiative, a consortium of 128 asset managers with a combined $43 trillion in assets under management, who are committed to reaching net zero greenhouse gas emissions by 2050 or sooner.

Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, today announced that Ben Harper has joined the firm as Head of Environmental, Social and Governance (“ESG”).

Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, today announced the final close of Stonepeak Global Renewables Fund (“GRF” or the “Fund”), a US$2.75 billion fund focused on investing in a diversified portfolio of renewable energy assets in developed markets around the world.