The $13.6 billion Maine Public Employees Retirement System has committed up to $150 million to Stonepeak Infrastructure Fund III, according to Andrew Sawyer, CIO, in an email. The commitment is subject to final due diligence, legal review and negotiations.
Stonepeak Infrastructure Fund III, managed by Stonepeak Infrastructure Partners, is an infrastructure fund that focuses on energy investments, mainly in North America. The fund has a $5 billion maximum fundraising target.
Previous commitments to the fund include $15 million from Seattle City Employees’ Retirement System, $75 million from the Teachers’ Retirement System of Louisiana and $50 million from the New Mexico Educational Retirement Board.
MainePERS previously committed $150 million to the fund’s predecessor, Stonepeak Infrastructure Fund II, which held a $3.5 billion hard cap final close in December 2016.
In 2016, Stonepeak invested in energy infrastructure companies such as Sage Midstream Ventures and a liquefied natural gas venture called Golar Power Ltd. Stonepeak also acquired Cologix Inc., a data-center operator, in June 2017.