According to sources, Stonepeak Infrastructure Partners is seeking US$2.5 billion, with a US$3.5 billion hard cap, for its Stonepeak Infrastructure Fund II LP.
As its predecessor, this fund will be focused on individual investments of US$75 million - US$300 million in North America mid-market infrastructure, including the power, water, energy and transport sectors.
The Oregon Public Employees Retirement Fund recently announced it has invested US$400 million in the fund. The pension fund also invested US$100 million in the first fund in 2012.
Stonepeak Infrastructure Partners is a North America focused private equity firm, which invests in businesses comprised of hard assets with leading market positions primarily in the following sectors: energy, power & renewables, transportation, utilities, water & communications.
The equity company was founded in 2011 by Trent Vichie and Michael Dorrell, who worked as co-heads of Blackstone's infrastructure investment division. The company currently manages US$1.7 billion of capital for its investors.