Rhode Island Employees commits $40m to real estate and infrastructure funds

The Rhode Island State Investment Commission, which oversees the assets of the state’s pension system as well as non-pension related investments such as the General Fund, has approved commitments to Stonepeak Infrastructure Fund V and to MCR Hospitality Fund IV.

The Employees’ Retirement System of Rhode Island (ERSRI) is committing $25 million to SIF V, while the Rhode Island OPEB System Trust is committing $2 million.

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.

ESRI is committing $15 million to MCR Hospitality Fund IV, while the Rhode Island OPEB System Trust is committing $450,000.