The San Francisco Employees’ Retirement System (SFERS) has announced a commitment of $75 million to Blackstone Strategic Partners Infrastructure IV.
According to a meeting document from July, this represents SFERS’ 13th investment with The Blackstone Group in its real assets portfolio.
Strategic Partners Infrastructure IV is a closed-end infrastructure secondaries fund focused on the U.S. market.
According to a transcript of the firm’s second quarter 2025 earnings call, Blackstone’s $91 billion secondaries business has doubled in the past five years. Jonathan Gray, president and COO of Blackstone, confirmed additional capital has been raised for this fourth infrastructure vehicle, bringing it to more than $5 billion — nearly 40 percent larger than the prior vintage. The vehicle’s predecessor, Strategic Capital Infrastructure III, closed at $3.8 billion in July 2020.
