MainePERS allots $40m for new Stonelake Opportunity Partners VII fund
The Maine Public Employees Retirement System (PERS) has approved a $40 million investment in Stonelake Opportunity Partners VII, an opportunistic fund managed by Texas-based Stonelake Capital Partners.
Stonelake Opportunity Partners VII opened to investors in February, according to a filing with the SEC. The fundraising target was not disclosed.
Like others in the fund series, Fund VII is pursuing real estate investments in Texas and select Sun Belt markets, with a primary focus on industrial warehouses, class A multifamily and class A offices located in walkable environments.
The fund’s predecessor closed in July 2021 at its hard cap of $555 million, exceeding its $500 million target.
For more information about this commitment o