The vehicle is targeting €1bn to focus on LP- and GP-led transactions as well as select co-investment opportunities.
The London-based firm expects to launch a fourth fundraising series later this year as it seeks to reach its €5bn hard-cap for EDIF III.
The target is four times the original $1.25bn Stonepeak sought for its maiden effort, which closed on $2.75bn in July 2021.
-80x80.jpeg "Japan’s GPIF makes first direct infra commitment with $300m for Brookfield Fund V")
The world’s largest pension, GPIF, has committed a further $300m to co-investments alongside Brookfield Fund V.
Palisade’s new open-end fund will focus on mid-market infrastructure across three verticals: renewables, digital infrastructure and transport.
The European-focused fund manager has already deployed more than 40% of Arcus European Infrastructure Fund 3 across four companies.
Stonepeak's head of Asia Hajir Naghdy discusses how the firm is taking its global investment approach to Asia to take advantage of ‘multi-decade’ investment tailwinds.
Credit fundraising surpasses $172bn as tailwinds point to more optimism.
Stonepeak is the latest major player to close a sizeable pan-Asia fund, having made six investments from the vehicle already.
Half a year after CVC Capital Partners' takeover, the Dutch manager has surpassed targets for both of the funds it launched two years ago.