Stonepeak, an alternative investment firm specializing in infrastructure and real assets, has acquired a three-asset, 1.7 million square foot rail-served logistics portfolio in Chicago from CenterPoint Properties.

The portfolio is at the largest inland port in North America, anchored by the BNSF and Union Pacific Class I rail intermodal terminals. All six Class I railroads converge in Chicago, with 25% of U.S. freight trains and half of all intermodal trains passing through, according to Stonpeak.

“This transaction demonstrates the power of the Stonepeak platform to invest in supply chain real estate with durable infrastructure characteristics,” said Phill Solomond, senior managing director and head of real estate. “The portfolio is directly adjacent to critical rail infrastructure and is a strong addition to our broader real estate strategy.”

The latest investment continues the firm’s focus on supply chain real estate underpinned by critical inland and coastal port infrastructure.

In October 2023, the NY-based private equity firm, which manages over $65 billion in assets, sold the Omni Industrial Campus, a 1.3 million square foot logistics portfolio near the port of Charleston, SC.

The firm recently announced its goal of raising at least $15 billion for its latest flagship fund. It raised $14 billion for Stonepeak Infrastructure Fund IV’s final close in February 2022, more than doubling its $7.2 billion Fund III and far above Fund IV’s initial $10 billion goal.

Stonepeak was already preparing to raise Fund V by November of that year, with the vehicle focusing on utilities, digital infrastructure, energy, data centers and transportation.