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Stonepeak closes third infrastructure fund at $7.2 billion hard cap

Stonepeak Infrastructure Partners has closed its third infrastructure fund at its $7.2 billion hard cap, a news release said.

Stonepeak's latest fund, Stonepeak Infrastructure Fund III, exceeded its $5 billion fundraising target at its first close in October. The new fund is more than double Stonepeak's prior fund, the $3.5 billion Stonepeak Infrastructure Fund II, which closed, also at its hard cap in 2016.

Investors in the current fund include:

A Stonepeak spokeswoman declined to comment beyond the news release.