New York-based Stonepeak to invest in Singapore’s AGP

AGP Sustainable Real Assets (AGP), a Singapore-based global infrastructure and real assets developer and operator, has announced a “strategic, preferred investment” from the US-based Stonepeak, a leading alternative investment firm specialised in infrastructure and real assets.

The details of the investment, which were not disclosed, is expected to close in Q4 of 2023 subject to satisfaction of customary closing conditions.

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, said that this strategic investment represented a pivotal milestone in AGP’s journey, and they were thrilled to be working with such a high calibre partner in Stonepeak and foresee this investment as a powerful catalyst for AGP’s 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,” Salmon said.

Hajir Naghdy, Senior Managing Director at Stonepeak said that AGP’s management team 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 center 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,” Naghdy added.

Elmahdi Tahri, AGP Partner and CIO of AMPYR Energy Global, AGP’s global renewable energy platform, said that they found a unique like-minded partner able to support our energy transition mission across our entire footprint.

About AGP and Stonepeak

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 is presently developing, constructing, delivered and/or operating globally an aggregate portfolio of over 12 GW of renewable energy assets, 5msqft of modern logistics warehousing, 310MW of datacentre capacity, and 20 million sft of community housing.

Stonepeak is a leading alternative investment firm 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.

Headquartered in New York and with offices in Hong Kong, Houston, London, Singapore, and Sydney, the company 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.