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City of Seattle commits $15m to infrastructure fund

by Jody Barhanovich

The $2.6 billion Seattle City Employees’ Retirement System has committed $15 million to Stonepeak Infrastructure Fund III, according to board of administration minutes.

Stonepeak Infrastructure Fund III, managed by Stonepeak Infrastructure Partners, launched in May with a $5 billion fundraising target.

The pension fund previously committed $8 million to the fund’s predecessor, Stonepeak Infrastructure Fund II, in 2015. It was the first infrastructure commitment for the pension fund following the creation of a 3 percent target to the asset class.

Previous commitments to infrastructure funds include $12 million to Global Infrastructure Partners III and $15 million to Brookfield Infrastructure Fund III.

 

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