The Teachers’ Retirement System of Illinois (TRS) has committed $250 million to Stonepeak Infrastructure Fund V.
Managed by New York–based Stonepeak, SIF V is seeking to raise $15 billion and will invest in large, high-quality, essential infrastructure assets primarily within the transportation and logistics, energy and energy-transition, and communications sectors.
SIF V will invest primarily within the United States and Canada and has a limit to invest no more than 25 percent of its capital outside of those countries.
As of June 30, 2023, TRS had 2.7 percent ($1.75 billion) of its $66.27 billion portfolio allocated toward real assets (excluding real estate), slightly above its 2 percent target allocation for the asset class, and up 800 basis points from its June 30, 2022, level of 1.9 percent.
