(Bloomberg) -- Stonepeak has agreed to acquire Boundary Street Capital, a private credit investment manager with more than $700 million in capital commitments.
Terms of the transaction, which is expected to close in the fourth quarter, weren’t disclosed in a statement reviewed by Bloomberg News.
The deal adds to alternative investment firm Stonepeak’s $70 billion of assets under management, according to the statement. The New York-based firm specializes in infrastructure and real assets and has been actively investing in private and secondary infrastructure credit since 2018.
Boundary Street provides flexible capital solutions to lower middle market technology and telecommunications businesses. The firm, based in Alexandria, Virginia, focuses on digital infrastructure, enterprise infrastructure software, and technology services.
“We continue to see compelling investment opportunities within the credit space, especially as it relates to digital infrastructure,” Stonepeak Co-President Jack Howell said in the statement. “The acquisition of Boundary Street is a natural next step in the growth of the firm and the evolution of Stonepeak Credit.”
Last week, Stonepeak said it was acquiring nine logistics assets totaling 1.8 million square feet in Jacksonville, Florida. It also announced it had agreed to buy freight and leasing company Air Transport Services Group Inc. in an all-cash transaction with an enterprise value of about $3.1 billion.
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