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Year Founded: 2011

AUM: $52.00B | Dry Powder: $14.21B
550 West 34th Street, 55 Hudson Yards, New York, NY 10001, US
Stonepeak Infrastructure Partners is an independent investment firm specializing in North American infrastructure investment that prefers to invest in the energy, power and renewable, utilities, transportation, water and communications sectors. The firm was founded in 2011 and is based in New York City

Key Contacts

  • Michael Dorrell
    Co-Founder & CEO and Chairman
  • Peter Bruce
    Senior Managing Director and CFO & COO
  • Trent Vichie
    Vice-Chairman & Co-Founder

Investment Preferences

  • Preferred Industries
    Commercial Transportation, Communications and Networking, Energy Services, Transportation, Utilities
  • Geographical Preference
    Australia, North America
  • Preferred Deal Types
    Buyout/LBO, PE Growth/Expansion
  • Other Investment Preferences
    Prefers majority stake

Investments By Year

Source: Pitchbook

Funds Closed

Stonepeak Infrastructure Fund IV
Vintage: 2022

Size: $14.0B

Dry Powder: $9.32B

Details: The fund targets energy, energy infrastructure, water utilities and infrastructure sectors

Global Renewables Fund
Vintage: 2021

Size: $2.8B

Dry Powder: $2.43B

Details: Fund pursues renewable energy assets in developed markets globally, primarily in NAMER, Asia, Europe and Australia

Stonepeak Infrastructure Fund III
Vintage: 2018

Size: $7.20B

Dry Powder: $1.82B

Details: It focuses on transportation, renewable energy, water and waste management asset class

Investments By Industry

Investments By Region

Source: Pitchbook

Key Investments

In December 2022, Stonepeak Partners LP entered into an agreement to acquire a 50% interest in KAPS, a Canadian natural gas liquids pipeline system connecting Northwest Alberta to energy hubs in Edmonton and Fort Saskatchewan. Keyera Corp. will continue to own the remaining 50% of KAPS and operate the asset

In October 2022, InterEnergy Group Ltd. partnered with Brookfield Renewable and its institutional partners, and Stonepeak to further expand its existing business platform while accelerating its transition to a net-zero business. Brookfield and Stonepeak together will invest up to $1 billion in the aggregate in InterEnergy over the course of the next 4 years. InterEnergy plans to use the investment to execute on a more than 1,000MW renewable development pipeline

In January 2022, Teekay LNG Partners L.P. and Stonepeak entered into an merger agreement where Stonepeak will acquire all the issued and outstanding common units representing limited partner units in Teekay LNG, including c.36 million common units owned by Teekay Corporation, and 100% of Teekay’s ownership in Teekay LNG’s general partner, Teekay GP L.L.C., which includes an economic ownership interest equivalent to c.1.6 million Teekay LNG common units, for $17.00 per common unit or common unit equivalent in cash

In October 2021, BYD and Levo Mobility LLC, a joint venture of Nuvve Holding Corp., affiliates of Stonepeak Partners LP, and Evolve Transition Infrastructure LP collaborated to integrate Nuvve’s leading vehicle-to-grid (“V2G”) technology with a mix of BYD battery electric vehicles and plans for joint deployment of up to 5,000 BEVs over the next 5 years

In August 2021, Stonepeak portfolio company Evolve Transition Infrastructure, certain investment vehicles managed by Stonepeak, and Nuvve Holding Corp formed a joint venture named “Levo” for $750 million. Levo is a provider of electrification services intended to serve the commercial transportation industry. The company is engaged in the integration of renewable energy sources for transportation using a vehicle to grid technology

In May 2020, AMP Capital completed a $145 million mezzanine debt investment with Stonepeak Infrastructure Partners to support the acquisition of Swancor Renewable Energy Co., Ltd. The investment, will support the construction of a new 376MW offshore wind farm called Formosa II

As of October 2019, Stonepeak Infrastructure Partners agreed to buy a 161MW power plant in Maine. At the time Stonepeak Kestrel Holdings III LLC was seeking regulatory approval to acquire the natural gas/oil-fired Bucksport power plant from American Iron & Metal Co., Inc. The financial terms were not disclosed

In September 2019, Stonepeak Kestrel Holdings’ 350MW Canal 3 dual-fueled power facility in Massachusetts reached substantial completion. Stonepeak Kestrel Holdings, an affiliate of Stonepeak Infrastructure Partners, acquired the project along with the adjacent 1,112MW oil-fired Canal power plant in 2018 from GenOn Energy Inc. 

Other Details

Stonepeak is a leading alternative investment firm specializing in infrastructure and real assets. The firm provides capital, operational support, and committed partnership to sustainably grow investments in its target sectors, which include transport and logistics, communications, water, energy transition, and power and renewable energy. Stonepeak’s global team consists of 198 employees including an investment team of 98 members, working at 7 locations worldwide serving more than 235 institutional investors

Stonepeak Infrastructure Fund IV is an infrastructure value added fund managed by Stonepeak Infrastructure Partners. While the fund is primarily focused on North America, it can also invest in Latin America and Europe in the communications, transport and logistics, and energy transition sectors. The fund was closed at $14 billion in February 2022

1/1 Capital, AMP Capital Investors, Bard Associates, Bay Grove Capital, BentallGreenOak, Brookside Equity Partner, Caisse de dépôt et placement du Québec, CenterSquare Investment Management, Cogent Energy Solutions, Cohen & Steers, D1 Capital Partners, Delta-v Capital, Equable Capital are some of the institutional investors who invest along with Stonepeak Infrastructure Partners

Source: Businesswire, PV Magazine, Data Economy, SparkSpread