Infrastructure funds continue to snap up assets in the wake of the bipartisan bill signed into law last year. The sector is bucking a growing trend of fundraises encountering limited partner pushback, if the pace of capital inflows is any measure. A look at recent deals in the space highlights the investment opportunity.
Partners Group announced the closing of its third fund yesterday. The $8.5 billion infrastructure endeavor focuses on decarbonization, digitization, and automation. Initial investments in Baltic heating platform GREN and Philippine telecommunications provider Unity Digital are representative of the fund’s targets.
Real estate and infrastructure specialist firm Stonepeak also closed a new fund this month. Stonepeak Infrastructure Fund IV clocks in at $14 billion of committed capital, nearly double its predecessor fund. The firm fielded interest in excess of its hard cap, the company said.
To date, Stonepeak’s definition of infrastructure has been wide. Recent investments include the acquisition of chemical and gas warehousing and logistics company Rinchem in January. The firm faces clients in aerospace, semiconductor, pharmaceutical, and biotech industries. Stonepeak also completed its acquisition of the sixth largest cable operator in the country, Astound Broadband, earlier last year.
Beneficiaries from an influx of infrastructure-related capital aren’t limited to building companies, dealmakers previously told us. Construction adjacent firms can anticipate a considerable uptick in opportunities as well. Operations and logistics firms could also see a lift, and it would seem that deals are already being struck for those kinds of companies in chemicals and broadband.