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Stonepeak raises $3.3 bln for its first Asia-dedicated infrastructure fund
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Stonepeak raises $3.3 bln for its first Asia-dedicated infrastructure fund
Mar 7, 2024 6:40 PM

SINGAPORE, March 8 (Reuters) - Stonepeak, a New

York-headquartered alternative investment firm, on Friday said

it has raised $3.3 billion for its Stonepeak Asia Infrastructure

Fund, its first fund dedicated to Asia.

The firm said it exceeded its $3 billion target after

receiving "robust demand from new investors and existing

investors in other Stonepeak funds."

Stonepeak focuses on infrastructure and real estate and has

$61.1 billion worth of assets under management as of September.

"The strong demand for this fund underscores Asia's

compelling long-term economic and demographic tailwinds," Hajir

Naghdy, Stonepeak senior managing director and head of Asia and

the Middle East, said in a statement.

Stonepeak said the new fund targets a diversified portfolio

of infrastructure assets mainly in communications, energy,

transport and logistics across the Asia-Pacific region.

The fund has made six investments spanning each of its

target sectors so far, Stonepeak said.

The new fund adds to a flurry of activity in Asia-Pacific

infrastructure and energy in recent years.

In February, KKR & Co ( KKR ) said it raised $6.4 billion

for a fund focused on Asia-Pacific infrastructure and

energy-related assets in what it said was the largest

pan-regional infrastructure fund raised for the region.

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