The Employees Retirement System (ERS) of Texas recently invested $75 million in Stonepeak Opportunities Fund (SOF), an infrastructure fund managed by Stonepeak Infrastructure Partners.
With a $2.5 billion fundraising target, SOF targets the digital infrastructure, energy transition, transportation and logistics, and social infrastructure sectors. Other recent investors in the fund include the Employees’ Retirement System of Rhode Island, the Seattle City Employees' Retirement System, the Teachers' Retirement System of Louisiana and the Washington State Investment Board.
Texas ERS manages approximately $35.8 billion of assets and had a 6 percent allocation to infrastructure, as of July, against a 5 percent strategic target.