Alts Manager Stonepeak to Acquire Private Credit Specialist Boundary Street

Stonepeak announced the acquisition of Alexandria, VA-based private credit specialist investment manager Boundary Street Capital.

Boundary Street focuses on lower-middle-market investments in digital infrastructure, enterprise infrastructure software, and technology services and currently manages more than $700M of capital commitments. It recently filed to launch BCSP Institutional Fund II, which followed on the $101M February close on its second small-business fund, BSCP SBIC II.

Stonepeak said the deal will support its existing infrastructure investing capabilities and expansion into related sub-sectors such as enterprise and infrastructure software, cloud and managed services, technology-enabled services, advanced mobility, and early stage digital infrastructure platforms.

Financial terms of the transaction, which is set to close in the fourth quarter subject to customary and regulatory approvals, were not disclosed. Paul, Weiss, Rifkind, Wharton & Garrison and Simpson Thacher & Bartlett LLP served as legal counsel to Stonepeak. Hogan Lovells served as legal counsel to Boundary Street.

Source: https://stonepeak.com/news/stonepeak-to-acquire-boundary-street-capital