Stonepeak Partners has closed its third infrastructure fund at a hard cap of $7.2 billion, beating its $5 billion target.
The limited partners of Stonepeak Infrastructure Fund III include more than 100 institutions from North America, Europe, Asia, the Middle East, Australia and Latin America.
Campbell Lutyens was the placement agent while Simpson Thacher & Bartlett LLP provided fund counsel.
In January 2016, Stonepeak closed its previous infrastructure fund at a hard cap of $3.5 billion. No performance data was available on the fund.
Founded in 2011, the New York City-based private equity firm currently has $15 billion in assets under management.