Stonepeak raises $8.6bn

The New York investment firm has raised capital for its fourth flagship fund.

Fund name: Stonepeak Infrastructure Fund IV
Target size: $12 billion
Actual size: $8.65 billion
Stage of fundraising: First close

Stonepeak Infrastructure Partners has raised $8.65 billion for Stonepeak Infrastructure Fund IV, according to a Form D filed by the firm. Capital raised by the vehicle will be used to invest in unlisted equity throughout North America across diversified sectors.

Fund IV received commitments from several institutional investors, including $700 million from Washington State Investment Board and $500 million from Oregon Public Employees’ Retirement Fund.