Macquarie renewables veteran joins Stonepeak

Michael Allison, who headed Macquarie’s renewables operations on the banking side, will now helm the New York fund manager’s renewables and power investing efforts.

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.