Imagine unlocking a world of steady income streams from Australia's essential infrastructure – without the complexities that often scare off everyday investors. Stonepeak is poised to change that with their groundbreaking launch, but here's where it gets intriguing: is this the smart diversification play everyone's been waiting for, or does it hide risks that could shake up your portfolio? Let's dive in and explore what this means for you.
Stonepeak, a premier global alternative investment powerhouse focused on infrastructure and tangible assets, has just revealed plans to introduce the Stonepeak-Plus INFRA1 Note ('Stonepeak-Plus INFRA1 Note' or simply 'the Note'), an unsecured, deferrable, redeemable, variable-rate debt instrument backed by infrastructure assets. This note is set to make its debut on the Australian Securities Exchange (ASX) on December 3, 2025, trading under the ticker symbol 'SPPHA.'
What exactly does this offer Australian investors? Picture this: regular monthly payouts fueled by a carefully selected assortment of top-tier infrastructure debt holdings. These debts primarily stem from vital infrastructure in areas like transportation and logistics, energy and renewable energy shifts, digital advancements, and community-focused facilities across Australia, New Zealand, and beyond. The interest rate? It's pegged to the Bank Bill Swap Rate (BBSW) for one month, plus a 3.25% annual margin, calculated monthly – think of BBSW as a benchmark rate reflecting short-term borrowing costs in the Aussie dollar market, making it a dynamic tool that adjusts with economic tides. And the plan? Aim for repayment six years from the issue date, providing a structured timeline for those seeking long-term stability.
To put this in perspective for newcomers, infrastructure debt isn't just loans to roads or power plants; it's financing that supports the backbone of society, often yielding predictable returns because these assets generate ongoing revenue from essential services. Unlike riskier corporate bonds, this debt class has historically shown resilience, with lower default rates – a key reason why it's hailed as a diversification gem. Still, and this is the part most people miss, accessing it at scale has been a hurdle for retail investors until now.
Stonepeak has already attracted over A$300 million in cornerstone commitments for the Note, hitting their funding goal and signaling robust early interest. This launch isn't just a product; it's a solution tailored for Aussie investors to capitalize on some of infrastructure's hottest trends, from green energy transitions to digital connectivity booms.
Andrew Robertson, Senior Managing Director and Head of Australia and New Zealand Private Credit at Stonepeak – the world's biggest independent infrastructure investor – puts it this way: 'Infrastructure enterprises have typically boasted lower failure rates than standard corporate borrowing, positioning infrastructure debt as an excellent diversification strategy thanks to its reliability. Yet, this asset type has long been tough for investors to tap into broadly. Our upcoming Stonepeak-Plus INFRA1 Note aims to bridge that gap for Australian investors, offering exposure to infrastructure's most exciting growth drivers.' He emphasizes leveraging Stonepeak's vast expertise, sector-specific knowledge, and strong partnerships to deliver a premium, investment-grade collection of debt assets.
Jack Howell, Co-President of Stonepeak, adds enthusiasm: 'We've been eyeing the credit market's potential for ages, and we're thrilled to democratize access via this Note. Starting our infrastructure debt journey in 2018, we've methodically grown our Stonepeak Credit division and its options. This Note marks another key achievement, extending our track record of funding across financing layers for premier, mission-critical infrastructure.'
Currently, Stonepeak Credit boasts nearly 30 dedicated professionals and more than 85 holdings, overseeing around A$2.9 billion in assets. A highlight this year? Acquiring Boundary Street Capital, a top-tier private credit specialist in digital infrastructure, enterprise software, and tech services for mid-sized markets. Plus, this Note launch fuels the expansion of Stonepeak+ (https://wealth.stonepeak.com/), their bespoke wealth management hub.
Supporting the initiative are joint lead managers E&P Capital, Westpac, Morgans, FIIG Securities, MST, and Shaw and Partners, with Corrs Chambers Westgarth handling legal counsel.
For context, Stonepeak Credit is the financing branch of Stonepeak, managing about A$121.1 billion (equivalent to USD$79.9 billion) in assets. They focus on credit opportunities in transportation and logistics, energy and renewables, digital infrastructure, and social sectors – those delivering indispensable services with built-in safeguards like high entry barriers and steady, recurring income. Their approach emphasizes adaptable financing across capital structures, prioritizing secure senior debt for consistent cash flows.
Stonepeak operates from headquarters in New York, with bases in Houston, Washington, D.C., London, Hong Kong, Seoul, Singapore, Sydney, Tokyo, Abu Dhabi, and Riyadh. Dive deeper at www.stonepeak.com.
Reach out to Kate Beers or Maya Brounstein at corporatecomms@stonepeak.com or +1 (646) 540-5225, or Jack Gordon at jack.gordon@sodali.com or +61 478 060 362.
Important Notices
Stonepeak-Plus Infra Debt Limited (ACN 692 150 253) issues the unsecured, deferrable, redeemable, floating-rate notes called the Stonepeak-Plus INFRA1 Notes ('Notes'), slated for ASX quotation. The Notes can be redeemed by, and interest deferred by, the Issuer. Information here is accurate as of publication and sourced from the Issuer.
Offers stem from a prospectus ('Prospectus'), available with a target market determination ('TMD') at stonepeakplus.com.au/INFRA-1. Review the Prospectus before investing, and check if you fit the target market per the TMD. Complete the attached application form. Note: no cooling-off periods apply.
EQT Australia Pty Ltd (ACN 111 042 132) serves as the authorized intermediary for offers and Note issuance under section 911A(2)(b) of the Corporations Act 2001 (Cth). They're an Australian financial services rep (number 1262369) for Equity Trustees Limited (ACN 004 031 298; AFSL 240975). Stonepeak-Plus Infra Debt Management Pty Ltd (ACN 691 462 067, authorized rep no. 001318081) manages investments and services for the Issuer.
The Issuer doesn't provide financial advice on the Notes. This info is general. It hasn't considered your personal goals, finances, or needs. Evaluate its suitability based on your situation before proceeding.
Historical results don't predict future outcomes. Investments carry risks, such as payment delays or losses of interest/principal. No Stonepeak Group member or anyone else guarantees the Notes or their returns. These aren't bank deposits.
Content isn't independently verified. Don't rely on its accuracy, fairness, completeness, or correctness. To the max extent allowed by law, the Issuer, Manager, Authorized Intermediary, or Stonepeak Group members and associates aren't liable (including for negligence) for losses from using this or related information.
A small portion of the portfolio may include non-infrastructure debts, as detailed in the Prospectus. AUM figures are as of June 2025, including pending commitments. Some investments are signed but not closed, with no closure assurances on current terms. Stats cover the Stonepeak Group, not just the Issuer.
But here's where it gets controversial: While infrastructure debt is praised for its stability, some critics argue that sectors like energy transition might involve environmental trade-offs or regulatory shifts that could disrupt those 'predictable' returns. Is this truly a low-risk haven, or are we overlooking potential downsides in the rush for diversification? What do you think – does this Note represent a savvy investment opportunity, or could it be a gamble in disguise? Share your thoughts and join the debate in the comments below!
