$1.17bn for Stonepeak fund

Fundraising is expected to conclude in the second half of 2013.

The Stonepeak Infrastructure Fund has collected $1.17 billion to outstrip its initial billion-dollar fundraising goal, according to a regulatory filing.

General partner (GP) Stonepeak Infrastructure Partners held a second ‘interim close’ on the fund, a filing with the US SEC revealed.

In March, Stonepeak held an interim close on $905 million. Last October, the fund counted $740 million in its first close.

The fund is expected to complete fundraising in the second half of the year. Trent Vichie, senior managing director with Stonepeak in New York, declined comment. It could not be ascertained how much capital the fund is targeting for its final close.

Vichie and senior managing director Michael Dorrell formed Stonepeak in 2011, in a spin-out from private equity firm Blackstone Group.

Vichie and Dorrell founded Blackstone Infrastructure Partners in 2008. The fund then went on to collect $400 million before Vichie and Dorrell spun out and rebranded Blackstone Infrastructure Partners as Stonepeak. 

Dedicated to investing in core infrastructure in North America, Stonepeak has secured capital from the New Mexico Educational Retirement Board ($40 million), Oregon Public Employees Retirement Fund ($100 million), Virginia Retirement System ($100 million), Washington State Investment Board ($250 million) and an anchor commitment from TIAA-CREF ($400 million). 

In all, the fund has amassed just under $900 million of US pension capital.