Here’s a bold statement: Access to infrastructure debt investments has long been a privilege of the few, but that’s about to change for Australian investors. Stonepeak, a global leader in alternative investments specializing in infrastructure and real assets, is set to democratize this asset class with the launch of the Stonepeak-Plus INFRA1 Note. But here’s where it gets exciting: this unsecured, deferrable, redeemable, floating-rate debt security is expected to list on the Australian Securities Exchange (ASX) on December 3, 2025, under the ticker code SPPHA. And this is the part most people miss—it’s not just about access; it’s about monthly income from a curated portfolio of high-quality infrastructure debt assets, primarily in critical sectors like transportation, energy transition, digital, and social infrastructure across Australia, New Zealand, and beyond.
Controversial yet compelling: While infrastructure debt is celebrated for its stability and lower default rates compared to corporate debt, it’s historically been a hard-to-reach asset class for retail investors. Stonepeak’s move aims to bridge this gap, but does it truly level the playing field? Let’s dive deeper.
The Stonepeak-Plus INFRA1 Note offers an interest rate pegged to the benchmark BBSW (1 month) + a margin of 3.25% per annum, accruing monthly. With a target repayment date six years after issuance, it’s designed for long-term income seekers. Already, Stonepeak has secured over A$300 million in cornerstone investments, signaling strong demand. But here’s the kicker: Is this enough to make infrastructure debt a mainstream investment option?
Andrew Robertson, Senior Managing Director and Head of Australia and New Zealand Private Credit at Stonepeak, highlights the diversification benefits: “Infrastructure debt’s stable and predictable nature makes it a powerful tool for investors, yet accessing it at scale has been a challenge. This Note aims to solve that while tapping into today’s most compelling infrastructure trends.” Meanwhile, Stonepeak Co-President Jack Howell emphasizes their commitment to broadening access to credit opportunities, noting their expansion since 2018 and the acquisition of Boundary Street Capital, a move that strengthens their digital and enterprise infrastructure expertise.
A counterpoint to consider: While the Note promises investment-grade quality, a minority of the portfolio includes non-infrastructure debt, as disclosed in the prospectus. Does this dilute the focus on infrastructure? Or is it a strategic diversification? We’d love to hear your thoughts in the comments.
Stonepeak Credit, with nearly 30 investment professionals and over 85 investments, manages approximately A$2.9 billion in assets. The launch of this Note also underscores the growth of Stonepeak+, their wealth solutions platform. Joint lead managers include E&P Capital, Westpac, Morgans, FIIG Securities, MST, and Shaw and Partners, with Corrs Chambers Westgarth as legal adviser.
Thought-provoking question: As infrastructure debt becomes more accessible, will it remain a niche asset class or become a staple in retail portfolios? Share your views below.
For more details, visit stonepeakplus.com.au/INFRA-1 and read the prospectus carefully. Remember, past performance isn’t indicative of future results, and investments carry risks, including potential delays in payments or loss of principal. But is this the game-changer Australian investors have been waiting for? Let the discussion begin!
