Notable deals
In March 2017, Stonepeak acquired Cologix.[14]
In November 2020, Stonepeak acquired Astound Broadband from TPG Inc. for $3.6 billion in cash along with $4.5 billion in debt.[15]
In November 2022, Stonepeak and Spirit Super acquired the Port of Geelong in a $732 million deal.[4][16]
In April 2021, Stonepeak teamed up with EQT AB to acquire KPN but in May, KPN rejected the deal.[17]
In October 2021. Stonepeak acquired Teekay LNG in a $6.2 billion deal.[18]
In May 2022, Stonepeak teamed up with Blackstone Inc.’s Blackstone Real Estate Income Trust and the Cherng Family Trust (Panda Restaurant Group) to acquire the Cosmopolitan of Las Vegas for $5.65 billion.[10]
In April 2025, it was announced Stonepeak and KKR had agreed to buy Assura plc, a UK-listed real estate company, in a deal worth £1.6 billion.[19] The deal is set to complete in autumn 2025 and is subject to approval.[19]
In December 2025, it was announced Stonepeak had agreed to acquire a 65 per cent majority controlling stake in Castrol from BP, valuing the lubricants business at an enterprise value of approximately US$10.1 billion. BP will retain a 35 per cent minority interest, while the Canada Pension Plan Investment Board will invest up to US$1.05 billion for an indirect stake in the transaction. The acquisition is subject to regulatory approvals and is expected to complete by the end of 2026.[20][21]
In January 2026, Stonepeak struck a deal with CMA CGM to create a US-based port venture valued around $10 billion. Stonepeak agreed to make a $2.4 billion investment for a 25% stake in the venture, to be known as United Ports.[22]
On March 12, 2026, Stonepeak announced it would be merging its Astound Broadband with Google Fiber. The combined company will be majority-owned by Stonepeak with Alphabet Inc. maintaining a minority share. The transaction is expected to close by the end of 2026.[23][24]
