Stonepeak
Capital investment management companyWikipedia
32
MENTIONS
18
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11
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Search complete. 32 mentions across 18 episodes found for "Stonepeak".
Sep 25, 2026
Jean SparrowHOST
A major vote on the future of Chicago's infamous parking meter deal has been pushed back at City Hall.
Jean SparrowHOST
As Crane's Justin Lawrence reports, aldermen were set to vote Friday on a $2.5 billion transfer of the meter system to New York private equity firm Stone Peak Partners.
Jean SparrowHOST
Instead, key supporters deferred the vote until September 29th to shore up support.
Jean SparrowHOST
The original 75-year lease signed in 2008 under former Mayor Richard M. Daley has long been criticized as one of the worst deals in city history.
Jean SparrowHOST
Stone Peak is looking to buy out the Morgan Stanley-led group that currently holds the contract, taking over the remaining 57 years.
Jean SparrowHOST
To sweeten the deal, negotiators secured terms that would give Chicago $75 million up front, a 5% share of annual net profits, and more control over taking meters offline for public events.
Jean SparrowHOST
All city revenues from the agreement would go directly toward funding Chicago's struggling pension system.
Jean SparrowHOST
Stone Peak has also agreed to sell off Omni Air International, an airline criticized for its contracts with federal immigration enforcement.
Naomi RuckumCORRESPONDENT
The sale would move the parking meter business from its current owner.
Naomi RuckumCORRESPONDENT
to investment firm Stone Peak Partners for more than $2.5 billion.
Naomi RuckumCORRESPONDENT
That money goes to the seller, but the city has to approve the transfer.
Naomi RuckumCORRESPONDENT
And under the proposed agreement, Chicago would get $75 million when the sale closes, plus 5% of net operating income each year.
Naomi RuckumCORRESPONDENT
That share is estimated at more than $376 million for the rest of the lease.
Naomi RuckumCORRESPONDENT
The city would also get 2% of the price if meters are sold again.
Naomi RuckumCORRESPONDENT
Stone Peak would also have to sell an airline that it owns that has carried out deportation flights, and that continues to be a sticking point.
Naomi RuckumCORRESPONDENT
Supporters say the agreement gets more for Chicago out of a lease long criticized as one of the worst municipal deals in the country.
Naomi RuckumCORRESPONDENT
Let's take a look at the details.
Naomi RuckumCORRESPONDENT
Stone Peak Partners would pay the current owner $2.5 billion for the parking meter business.
Naomi RuckumCORRESPONDENT
That's the sale price between two companies, not what Chicago would receive.
Naomi RuckumCORRESPONDENT
Under the agreement, the city would get $75 million when the sale closes, plus 5% of the business's net operating income each year.
Naomi RuckumCORRESPONDENT
That share is estimated at more than $376 million over the remaining 57 years of the lease.
Naomi RuckumCORRESPONDENT
Chicago would also get 2% of the price if the meters are sold again.
Naomi RuckumCORRESPONDENT
Stone Peak would have to sell an airline it owns that has carried out deportation flights.
Naomi RuckumCORRESPONDENT
That's a condition pushed by council members who had opposed the sale.
Jake SheridanPANELIST
the new buyer's ownership of an airline that does deportation flights, flights for ICE, for DHS, the company has promised to sell that airline.
Jake SheridanPANELIST
So there's a number of things and agreements, promises that Stone Peak, the investment firm that is buying the parking meters from the main owner, Morgan Stanley, is promising to do.
Jake SheridanPANELIST
It's a slightly better deal.
Jake SheridanPANELIST
Still, to use Mayor Brandon Johnson's words, the worst deal in the history of all municipal deals.
Terrell BrownHOST
So it's breaking overnight or a controversial rather parking meter deal is back before the City Council's Financial Committee, Finance Committee today.
Terrell BrownHOST
The proposed deal would allow New York investment firm Stone Peak to buy the meter lease for $2.53 billion.
Terrell BrownHOST
If approved today, the full city council is expected to vote at a special meeting tomorrow.
Terrell BrownHOST
This was breaking overnight.
Cheryl BurtonHOST
The City Council Committee will be taking up a revised Chicago parking meter deal tomorrow.
Cheryl BurtonHOST
There's a proposal to sell the meter's deal to a New York investment firm named Stone Peak.
Cheryl BurtonHOST
And then this matter is going to go to the full council during a special meeting on Friday.
Terrell BrownHOST
Chicago is keeping Divvy bikes around for a few more years.
Evelyn HolmesCORRESPONDENT
It also allows for an ongoing 5% profit sharing for Chicago that is estimated to bring roughly $376 million over the remaining 50-plus years of the lease.
Evelyn HolmesCORRESPONDENT
Now, Stone Peak also agreed to sell OmniAir International, a company used by the Trump administration to carry out US Immigration and Customs Enforcement deportations.
Evelyn HolmesCORRESPONDENT
That issue has prompted strong opposition from alderpeople during earlier discussions.
Evelyn HolmesCORRESPONDENT
Now, Francis Parker School's plans to expand could also be up for a vote after clearing the major hurdle in the, uh, zoning committee.
Sean CrawfordHOST
What's happening?
Heather CheroneGUEST
The firm that the city leased the meters to back in 2008 wants to sell it to a new investment firm.
Heather CheroneGUEST
That sale needs the approval of the Chicago City Council, which seemed unlikely to approve the agreement, in part because the firm owns an airline that the Trump administration has been using to do long-haul deportation flights.
Heather CheroneGUEST
Progressive aldermen wanted a commitment from the firm to sell that airline.
Heather CheroneGUEST
They got it as part of a deal announced by five older people announced last week.
Heather CheroneGUEST
The firm, New York-based Stone Peak, has also agreed to give the city a cool $75 million sale fee and a share of the meter's profits going forward.
Heather CheroneGUEST
Now, just 5%, but that could amount to several hundred million dollars over the next 57 years.
Heather CheroneGUEST
So that is scheduled for a vote by the Finance Committee on Monday.
speaker_54UNKNOWN
The court ponders if democracy should be a spectator sport with gerrymandering ensuring the best seats are always reserved for the same team.
speaker_55UNKNOWN
Chicago sells parking meters to Stone Peak, demands they dump deportation flights first.
speaker_55UNKNOWN
Next up, the city plans to trade its streetlights for a subscription to a streaming service that only plays political ads.
speaker_56UNKNOWN
war powers resolution rebuking trump as iran conflict lingers on indefinitely when a bipartisan rebuke feels like a group hug you know the war is dragging on longer than a never-ending podcast subscription
Doomscroll AIHOST
Your curated chaos delivered in high-definition apathy.
speaker_100UNKNOWN
Chicago sells parking meters to Stonepeak, demands they dump deportation flights first.
speaker_100UNKNOWN
Next up, the city plans to trade its streetlights for a subscription to a streaming service that only plays political ads.
speaker_6UNKNOWN
Trump panics as turns voters against him, spins like a carnival ride.
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