Private investment giant Stonepeak has agreed to acquire Boundary Street Capital, a private credit firm with a focus on digital infrastructure, enterprise software, and technology services in the lower middle market.
The acquisition of US-based Boundary Street, which currently manages over £700m in capital commitments, expands Stonepeak’s footprint in digital infrastructure, a sector rapidly growing due to demand for data services and AI technology.
According to a press statement, Stonepeak’s credit division, which has been active in private and secondary infrastructure investments since 2018, aims to leverage Boundary Street’s expertise to support companies in digital infrastructure, cloud services, and technology-driven sectors.
“With our increased focus on credit investments, especially in digital infrastructure, adding Boundary Street’s talented team is a logical next step,” said Jack Howell, Co-President of Stonepeak.
Boundary Street, established by veteran credit investors including Rashad Kawmy, has been a significant player in financing digital infrastructure since the mid-2000s.
Financial terms of the deal, which is expected to close in the fourth quarter of 2024 – subject to regulatory approval – have not been disclosed.
Legal counsel for the transaction included Paul, Weiss, Rifkind, Wharton & Garrison, Simpson Thacher & Bartlett for Stonepeak, and Hogan Lovells for Boundary Street.
