Stonepeak was awarded Equity Fund Manager of the Year in North America, with judges saying the fund manager was a natural winner in the region.

Judges were impressed by the volume of deals done by Stonepeak throughout the judging period, despite the current complex macro environment, which has been characterized by rising rates, inflation, and other challenges specific to traditional infrastructure sectors.

Over the judging period, Stonepeak announced more than 12 investments spanning multiple sectors, including communications, energy and energy transition, transport and logistics, real estate, and social infrastructure. Many of which have been recognized at the IJInvestor Awards 2024.

In North America, Stonepeak acquired:

• acquired Textainer, one of the world’s largest lessors of intermodal containers, for $7.4 billion
• provided Clean Energy Fuels with up to $400 million in financing to continue the expansion of RNG infrastructure
• provided a strategic growth investment of up to $200 million to GTA (TeleGuam), the leading digital infrastructure provider on the US territory of Guam
• agreed to acquire a 50% interest in the Coastal Virginia Offshore Wind project from Dominion Energy
• acquired an ownership stake in a portfolio of four U.S. onshore wind farms from Ørsted
• acquired a 1.7m square foot rail-served logistics portfolio in Chicago
• formed a JV with American Tower subsidiary CoreSite to develop an 18 MW data center in Denver

Shortly after the judging period, in August 2024, Stonepeak closed its Opportunities Fund, which the fund manager said was “meaningfully oversubscribed and closed at its revised hard cap of $3.15 billion”.

The fund targets core-plus and value-add opportunities, including control investments and structured capital solutions, in the middle-market infrastructure sector in North America and Europe.

The submission said: “To date, the fund has committed 40% of its capital to 6 investments, underscoring the effectiveness of our thematic approach to sourcing, structuring expertise, experience in complex situations, and operating capabilities.”