Stonepeak Infrastructure Partners

Stonepeak Infrastructure Partners is one of the largest infrastructure fund managers, founded in 2011 and based in New York. With $71.2 billion in AUM as of March 2024, Stonepeak had investments in at least 14 energy companies, 71 percent of which are fossil fuel-based companies.

The firm invests in two LNG Terminals, Bahrain LNG and Calcasieu Pass LNG, which are responsible for an estimated 6.9 million tons CO2e annually. The firm earned a C on the Private Equity Climate Risks Scorecard.

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In 2022, Stonepeak purchased a specialized ice-class LNG tanker company, Seapeak, which was found to be serving Yamal LNG, Russia’s largest export terminal and a key to replenishing the dwindling funds of the Russian government, according to a July 2024 investigation by Bloomberg. The investigation stated that several US pension funds are invested in Stonepeak’s Infrastructure Fund IV, and therefore indirectly invested in Seapeak, servicing the Russian LNG market. These funds include: Washington State Investment Board, Oregon Public Employees Retirement Fund, New York State Common Retirement Fund, and California Public Employees’s Retirement System.