The $26.7 billion Texas Municipal Retirement System has committed up to $150 million to Stonepeak Infrastructure Partners III, according to board meeting documents.
Stonepeak Infrastructure Partners III, managed by Stonepeak Infrastructure Partners, is a North America–focused infrastructure fund investing in the telecommunications, energy, water, midstream, transportation, power, renewables and utilities sectors. Stonepeak takes a control or structured approach to investing, as well as a countercyclical investment approach and manages approximately $3.7 billion of investments in the infrastructure space.
Fund III is seeking to reach a $7 billion hard-cap by first quarter 2018, according to IREI’s FundTracker database.
The fund has received multiple commitments from investors, including $75 million from the $75.96 billion New Jersey State Investment Council and $400 million from the $74.2 billion Oregon Public Employees Retirement Fund.
The fund’s predecessor, Stonepeak Infrastructure Partners II, held a $3.5 billion hard-cap final close on Jan. 11, 2016.
Stonepeak is also currently raising a $5 billion private infrastructure fund that will center on the core-plus risk spectrum, according to the documents.
Founded in 2011 and headquartered in New York, Stonepeak manages $7.3 billion of capital for its investors, as of Dec. 31, 2016.
