Report: Stonepeak Raises $764M at Close of Debut RE Fund

Stonepeak raised $764M at closing of its debut property fund, Stonepeak Real Estate Partners, PERE reported December 11, citing internal data.

The value-add fund is focused on North America and was launched in July 2022 with a target of $1B. At its first close, it had raised $556.3M. PERE said the final close happened in July.

Stonepeak Real Estate Partners will target supply chain, residential, healthcare and technology-related properties. According to Dakota data, the fund attracted commitments from the Texas Municipal Retirement System ($100M), the New Mexico Educational Retirement Board ($75M), and the Santa Barbara County Employees' Retirement System ($10M).

PJT Partners and Altis S.A. Administradora General de Fondos oversaw the marketing of the fund, according to SEC filings for the fund.