Dorrell Turns Blackstone ‘Poor Timing’ Into a $9 Billion Fortune

Australian native’s Stonepeak Partners manages $72 billion
He recently bought an island off Palm Beach for $150 million

Dorrell paid $150 million last year for Tarpon Island.Photographer: Felix Mizioznikov/Shutterstock

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By Tom Maloney

March 5, 2025 at 12:00 PM UTC

Updated on

March 5, 2025 at 5:07 PM UTC

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Infrastructure investing in the US was starting to boom in 2007 and Mike Dorrell was looking to capitalize on his expertise.

Dorrell, a managing director for Australian bank Macquarie Group Ltd., and colleague Trent Vichie went to Blackstone Inc. and successfully pitched the alternative-investment giant on building out an in-house business buying assets like pipelines, cell phone towers and toll roads.