Stonepeak Completes Acquisition of Boundary Street Capital
Deal News | Jan 16, 2025 | Stonepeak
Stonepeak, a preeminent alternative investment firm, has successfully acquired Boundary Street Capital, a specialist in private credit investment focused on sectors including digital infrastructure and technology services in the lower middle market. This strategic acquisition is part of Stonepeak’s broader efforts to expand its credit investment platform by bringing onboard Boundary Street’s expertise and capabilities, which align well with Stonepeak’s growth strategy in the infrastructure sector. Key leaders from both companies have expressed their enthusiasm about the partnership due to the strong cultural fit and complementary strengths. Legal counsel for the transaction involved prestigious law firms including Paul, Weiss, Rifkind, Wharton & Garrison, and Simpson Thacher & Bartlett LLP for Stonepeak, as well as Hogan Lovells for Boundary Street. Stonepeak has a significant global footprint with approximately $72 billion in assets under management, focusing on diverse sectors such as digital infrastructure, energy, transport, logistics, and real estate.
Sectors
- Alternative Investment
- Private Credit
- Digital Infrastructure
Geography
- United States – Both Stonepeak and Boundary Street are based in the U.S., with Stonepeak headquartered in New York and operations across major U.S. cities.
Industry
- Alternative Investment – Stonepeak operates in the alternative investment sector, specializing in infrastructure and real assets, exemplified by its acquisition of Boundary Street Capital.
- Private Credit – Boundary Street Capital focuses on private credit investment within digital infrastructure and technology services, providing middle market capital solutions.
- Digital Infrastructure – The acquisition highlights a focus on digital infrastructure investment, crucial for bridging the digital divide and enhancing technology capabilities.
Financials
- $72 billion – Assets under management by Stonepeak.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Stonepeak | Acquirer | Company | An alternative investment firm specializing in infrastructure and real assets, managing approximately $72 billion in assets. |
| Boundary Street Capital | Target Company | Company | A private credit investment manager focused on the digital infrastructure and technology services in the lower middle market. |
| Jack Howell | Co-President of Stonepeak | People | Leadership role in announcing the acquisition and integration of Boundary Street into Stonepeak. |
| Michael Leitner | Senior Managing Director at Stonepeak | People | Involved in the strategic expansion of Stonepeak’s credit platform through the acquisition. |
| Rashad Kawmy | Partner and Co-Founder of Boundary Street | People | Instrumental in leading Boundary Street’s integration with Stonepeak and leveraging its expertise. |
| Paul, Weiss, Rifkind, Wharton & Garrison | Legal Advisor to Stonepeak | Company | Provided legal counsel for Stonepeak in the acquisition process. |
| Simpson Thacher & Bartlett LLP | Legal Advisor to Stonepeak | Company | Joint legal advisor to Stonepeak during the acquisition. |
| Hogan Lovells | Legal Advisor to Boundary Street | Company | Offered legal services to Boundary Street in the acquisition transaction. |