US funding agency Stonepeak debuts infrastructure fund for high-net-worth traders

(Reuters) -Funding agency Stonepeak launched an infrastructure fund on Tuesday concentrating on people with at the least $5 million in investments as personal fairness corporations increase their fundraising efforts past institutional traders.

Stonepeak focuses on infrastructure property, investing capital on behalf of traders, together with private and non-private pension funds, insurance coverage corporations, endowments and different giant establishments from around the globe.

The New York-based firm filed for registering Stonepeak-Plus Infrastructure Fund, which can concentrate on transportation logistics, digital and vitality infrastructure sectors, in accordance with a submitting.

Non-public wealth has gained consideration from main personal fairness gamers equivalent to Blackstone (NYSE:BX), KKR, which have established infrastructure autos to boost cash from rich traders.

Funding agency Stonepeak had about $70 billion of property underneath administration as of June 30, 2024.

The corporate doesn’t count on the infrastructure fund to have a pre-determined threshold for potential exit of its property, the submitting stated.