AGP Sustainable Real Assets Announces Strategic Investment from Stonepeak
SYDNEY, AUSTRALIA -
Media OutReach - 6 November 2023 - AGP Sustainable Real Assets ("AGP"), a Singapore-based global infrastructure and real assets developer and operator, today announced a strategic, preferred investment from Stonepeak, a leading alternative investment firm specialising in infrastructure and real assets.
As a strategic capital partner, Stonepeak will bring valuable expertise to the AGP management team, and help to accelerate the growth of AGP's portfolio across business verticals including energy transition and sustainable community infrastructure across housing, logistics, and data. The partnership also gives Stonepeak the opportunity to invest across new markets and sectors with a trusted local partner. Together, Stonepeak and AGP will work to further AGP's mission to build real assets that enable a sustainable and net zero emissions future.
Ben Salmon, AGP Partner, commented: "This strategic investment represents a pivotal milestone in AGP's journey. We are thrilled to be working with such a high-calibre partner in Stonepeak and foresee this investment as a powerful catalyst for our forward trajectory. AGP is committed to reshaping the landscape of infrastructure development. Our aim is to seamlessly integrate energy and community infrastructure, developing innovative sustainable solutions that meet society's evolving needs."
Hajir Naghdy, Senior Managing Director at Stonepeak added: "We look forward to partnering closely with AGP's management team, who has over 20 years of experience, on the development, construction, and operation of sustainable infrastructure. AGP's global energy transition portfolio, logistics and community housing platform in India, and data centre joint venture with Stonepeak's existing portfolio company, Digital Edge, are directly aligned with Stonepeak's key verticals. The opportunity to invest in sustainable asset creation and the exposure across multiple geographies make this partnership a strong fit for Stonepeak's Asia infrastructure strategy."
Elmahdi Tahri, AGP Partner and CIO of AMPYR Energy Global, AGP's global renewable energy platform, added: "In Stonepeak we have found a unique like-minded partner able to support our energy transition mission across our entire footprint. We are excited to take AMPYR's decarbonisation contribution to new heights alongside Stonepeak."
The investment is expected to close in Q4 2023 subject to satisfaction of customary closing conditions.
Sidley Austin LLP is serving as legal counsel to Stonepeak, and Clifford Chance LLP is serving as legal counsel to AGP.
About AGP Sustainable Real Assets
Headquartered in Singapore, AGP invests in, develops and operates sustainable real assets across three key investment themes: renewable energy, infrastructure and communities, and natural capital. AGP's mandate is to promote real assets that generate positive impact for people and the environment, by focusing on 'Sustainable Real Assets': transformative infrastructure assets that make positive contributions to satisfying the UN SDGs. AGP is presently developing, constructing, delivered and/or operating globally an aggregate portfolio of over 12GW of renewable energy assets, 5msqft of modern logistics warehousing, 310MW of data centre capacity, and 20msqft of community housing.
Stonepeak is a leading alternative investment firm specialising in infrastructure and real assets with approximately $57.1 billion of assets under management. Through its investment in defensive, hard-asset businesses globally, Stonepeak aims to create value for its investors and portfolio companies, and to have a positive impact on the communities in which it operates. Stonepeak sponsors investment vehicles focused on private equity and credit. The firm provides capital, operational support, and committed partnership to sustainably grow investments in its target sectors, which include communications, energy and energy transition, transport and logistics, social infrastructure, and real estate. Stonepeak is headquartered in New York with offices in Hong Kong, Houston, London, Singapore, and Sydney.