Macquarie renewables veteran joins Stonepeak

Michael Allison, a 17-year Macquarie veteran who led the Australian firm's renewables operations on the banking side, has joined fund manager Stonepeak Infrastructure Partners .

Allison joins the New-York based fund manager as a managing director and will head up its renewables and power investing efforts. The manager has been active in the power sector, having recently committed up to $500 million in equity to Sage Midstream, a company that will pursue investments in North American energy infrastructure.

Stonepeak sailed through to a first and final close on its second infrastructure fund earlier this year, reaching its $3.5 billion hard-cap just six months after launching the vehicle. Fund II, which was oversubscribed, brings Stonepeak's total assets under management to $5.7 billion.

But the firm has not stopped fundraising since, with the Teacher Retirement System of Texas, the US state's largest public pension fund, approving an additional $75 million in May for SIF II-T, a side-car vehicle. The pension had already committed $250 million to Stonepeak's second infrastructure fund.