By Yantoultra Ngui and Kane Wu

SINGAPORE/HONG KONG (Reuters) -U.S.-based investor Stonepeak is seeking to raise as much as $4 billion for its second Asia-focused infrastructure fund, a source with direct knowledge of the plan said, as investors seeking lucrative long-term returns drive a wave of new investments in the region.

Stonepeak expects to reach $1 billion, or a quarter of its target, by the end of this month, four months after its launch in May, according to the source, who declined to be named as the details are not public.

The fundraising comes just a year after the firm closed its first Asia-focused fund at $3.3 billion, signalling swift capital deployment and strong investor interest in the asset class.

A spokesperson for Stonepeak, which began investing in Asia in 2019 and

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