|
Laxman Pai, Opalesque Asia: New York-based alternative investment firm Stonepeak Partners has raised $2.75 billion for its first fund solely dedicated to investments in renewable energy.
The infrastructure-focused firm wrapped up Stonepeak Global Renewables Fund (GRF) LP at an increased hard cap and far above its original $1.25 billion target, the firm said. More than 40 investors from 15 countries backed the fund.
This increase in fund size is representative of the accelerating scale of the opportunity in renewables, as both government policy and private sector corporate strategy become increasingly supportive of the energy transition, said a press release from the private equity and credit firm with approximately $37 billion of assets under management.
As of the final close, GRF has already assembled an US$800 million portfolio of investments across the U.S. and North Asia, including utility-scale and Commercial & Industrial (C&I) solar, as well as onshore and offshore wind platforms.
"Consistent with Stonepeak's overall approach to investing, GRF applies a thematic and relationship-driven approach to deal sourcing, strong operational acumen, and stringent focus on downside protection to the fast-growing and critically important renewable energy sector," said the release.
Stonepeak Senior Managing Director Hajir Naghdy said, "Renewable energy provides a critical pathway to rapidly decarbonize the global electricity sector and is an increasingly attractive ...................... To view our full article Click here
|
RSS
