Stonepeak Seeks $4 Billion for Second Asia Infrastructure Fund Amid Rising Demand for Long-Term Returns

Stonepeak, a US-based investor, is seeking to raise up to $4 billion for its second Asia-focused infrastructure fund. The firm aims to reach $1 billion by the end of this month, four months after its launch in May. The fundraising comes as many countries in Asia seek to increase infrastructure spending to sustain economic growth and living standards. Other global investors, such as KKR, are also increasing their firepower in Asia, targeting sectors like data centers and logistics.

U.S.-based investor Stonepeak is seeking to raise up to $4 billion for its second Asia-focused infrastructure fund, according to a source with direct knowledge of the plan Exclusive: US investor Stonepeak seeks to raise $4 billion for second Asia infrastructure fund, source says^[1]. The firm aims to reach $1 billion by the end of this month, four months after its launch in May. This fundraising effort comes as many countries in Asia seek to increase infrastructure spending to sustain economic growth and living standards.

Stonepeak, which began investing in Asia in 2019 and manages $76.3 billion in assets globally, is targeting sectors such as data centers and logistics. Cold storage logistics, driven by changing diets and rising protein demand, is a key focus for the firm. Hajir Naghdy, the firm's senior managing director and head of Asia and the Middle East, noted that a "multi-decade" trend of rapid urbanization has created a generational infrastructure investment opportunity in Asia Exclusive: US investor Stonepeak seeks to raise $4 billion for second Asia infrastructure fund, source says^[1].

Other global investors are also increasing their presence in Asia. KKR, for instance, is fundraising for its third pan-Asia infrastructure fund, which is expected to exceed the $6.4 billion raised for its previous fund Exclusive: US investor Stonepeak seeks to raise $4 billion for second Asia infrastructure fund, source says^[1]. KKR declined to comment on the fundraising plan, but Andrew Jennings, a managing director at the firm, stated that they are applying private equity-style strategies to businesses that are slightly higher on the risk spectrum but still behave like infrastructure firms Exclusive: US investor Stonepeak seeks to raise $4 billion for second Asia infrastructure fund, source says^[1].

The Asian Development Bank estimates that developing Asia needs to spend around $1.7 trillion a year on infrastructure between 2023 and 2030 to maintain its growth momentum, eradicate poverty, and respond to climate change Exclusive: US investor Stonepeak seeks to raise $4 billion for second Asia infrastructure fund, source says^[1]. This growing demand for infrastructure investment is driving the increased activity in the region.