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©Reuters.
SINGAPORE (Reuters) – New York-based alternative investment firm Stonepeak said on Friday it has raised $3.3 billion for its first Asia-only fund, the Stonepeak Asia Infrastructure Fund.
The company said it exceeded its $3 billion goal due to “strong demand from new investors and existing investors in other Stonepeak funds.”
Stonepeak focuses on infrastructure and real estate, with $61.1 billion worth of assets under management as of September.
“The strong demand for this fund is underpinned by compelling long-term economic and demographic tailwinds in Asia,” Hajir Nagdi, senior managing director and head of Asia and Middle East at Stonepeak, said in a statement. “There is,” he said.
Stonepeak said the new fund targets a diversified portfolio of infrastructure assets primarily in communications, energy, transportation and logistics across the Asia-Pacific region.
Stonepeak said the fund has made six investments to date across each of its target sectors.
This new fund has seen increased activity in the infrastructure and energy sectors in the Asia-Pacific region in recent years.
In February, KKR & Co (NYSE:) announced it had raised $6.4 billion for a fund focused on infrastructure and energy-related assets in Asia Pacific, making it the largest fund raised in the region. He said it was a pan-regional infrastructure fund.
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