Stonepeak has so far raised over half of the $1bn (€914m) it is seeking for its debut real estate fund, according to a recent SEC filing.
The document revealed that the manager had received $550m worth of commitments for the Stonepeak Real Estate Partners, the vehicle sources say is expected to raise $1bn.
Stonepeak declined a request for further comment.
As previously reported, Texas Municipal Retirement System approved a $150m commitment to Stonepeak Real Estate Partners, the US value-add real estate fund expected to invest in industrial, residential, healthcare and technology areas nationwide. The fund has no assets at the moment
Stonepeak Real Estate Partners is the first real estate fund to be launched by Stonepeak, which moved into the asset class in 2021. Since the launch of the Stonepeak real estate division, the manager has completed three industrial deals and has also participated in the acquisition of The Cosmopolitan of Las Vegas resort in 2021, which was sold by Blackstone.
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