Maine Public Employees Retirement System (PERS) has backed a renewables fund managed by Stonepeak Infrastructure Partners, a spokesperson for the pension fund confirmed in an email.
The $14.9 billion pension fund has approved a commitment of up to $125 million in Stonepeak Infrastructure Partners IV, a fund targeting the energy, transport, renewables, telecommunications, utilities and water sectors.
Stonepeak is seeking to raise $10 billion for the fund.
Other recent backers include the Oregon Public Employees Retirement Fund, the Teachers’ Retirement System of Louisiana and Seattle City Employees’ Retirement System, with respective commitments of $500 million, $50 million and $20 million.
MainePERS previously committed up to $150 million to Stonepeak Infrastructure Fund III in 2017 and up to $140 million to Stonepeak Infrastructure Partners II in 2015.
As of Dec. 31, 2019 Maine PERS was oversubscribed to the infrastructure asset class, with an
