The New Mexico Educational Retirement Board has committed $50 million to Stonepeak Infrastructure Fund II, according to Bob Jacksha, CIO for the pension fund.
The infrastructure fund, managed by Stonepeak Infrastructure Partners, will focus on midmarket power, midstream, transportation and communications investments in the United States and Canada.
Jacksha says NMERB’s interest in the fund is due to its “focus on midmarket deals, which we feel will offer better opportunities than larger deals, which are more fully priced.”
The $11.4 billion pension fund previously invested in Stonepeak Infrastructure Fund I, which closed in 2013 after raising $1.65 billion. The pension fund has a 3 percent target allocation to infrastructure; its actual allocation is 1.4 percent.