Stonepeak has announced the final close for the Stonepeak Infrastructure Fund IV with US$14 billion of aggregate capital commitments. The fund was oversubscribed with demand exceeding its hard cap.

Fund IV targets infrastructure assets across North America, primarily within the communications, transport and logistics, as well as energy transition sectors. The fund has committed approximately 40% of total capital commitments to 10 investments. Transactions include Astound Broadband, Seapeak (formerly Teekay LNG), DELTA Fiber, Emergent Cold LatAm and Rinchem. Stonepeak currently expects the Fund to make more than 15 investments when fully deployed.

The fund received commitments from a diverse group of more than 150 global investors from 23 different countries with strong support from both existing (57% of commitments) and new investors. Simpson Thacher & Bartlett LLP acted as fund counsel.