LONDON & NEW YORK--(EON: Enhanced Online News)--First Avenue, a leading global private placement agent and investment advisory firm, is pleased to announce the final closing of Stonepeak Infrastructure Partner’s debut fund with total commitments of $1.65 billion. Stonepeak Infrastructure Fund I was oversubscribed, significantly exceeding its original target of $1 billion. Fund commitments were obtained from a diverse group of investors, including several large pension funds, insurance companies and other institutional investors from North America, Europe and Asia. First Avenue served as the sole global placement agent for the fund.
“They understood our business and efficiently used our time so that we were able to continually manage and grow our portfolio while navigating successfully through the fundraising process. We look forward to a continued relationship with all of our investors and everyone at First Avenue.”
“We would like to congratulate Mike Dorrell, Trent Vichie and the entire Stonepeak team on their successful fundraise in what continues to be a challenging market. Investors were attracted to Stonepeak’s focus and experience in North American middle market infrastructure, compelling initial investments and a strong pipeline of opportunities. We wish them continued success,” commented Jim McCarvill, Co-Managing Partner of First Avenue.
The Stonepeak team will be investing Fund I in the water and utilities, energy, power and transportation sectors. Thus far they have made four Fund I investments.
“We were impressed with First Avenue’s team, and their execution in bringing our story to the market,” commended Trent Vichie, Co-Founder and Senior Management Director of Stonepeak Partners. “They understood our business and efficiently used our time so that we were able to continually manage and grow our portfolio while navigating successfully through the fundraising process. We look forward to a continued relationship with all of our investors and everyone at First Avenue.”
About Stonepeak Infrastructure Partners
Stonepeak Infrastructure Partners is an independent infrastructure fund manager that invests in North American middle-market infrastructure. The firm targets lower risk investments in energy, power, renewables, water, transport and utilities. Stonepeak is headquartered in New York. For more information, visit www.stonepeakpartners.com.
About First Avenue
Founded in 2006, First Avenue is a leading independent global placement agent and advisory firm dedicated to raising capital for a distinguished group of alternative asset managers across private equity, real assets, real estate and private credit in developed and emerging markets. With an experienced team of over 45 professionals located in London, New York, San Francisco and Cleveland, First Avenue provides global distribution and accessibility to an extensive network of institutional investors. For more information on First Avenue, please visit www.firstavenue.com.
First Avenue Partners LLP is registered in England and Wales under the no. OC319893. Authorised and regulated by the Financial Conduct Authority
FAP USA, L.P. member FINRA/SIPC