The Teacher Retirement System of Texas has committed $200 million to Stonepeak Infrastructure Fund III, according to Juliana Fernández Helton, communications specialist for the pension fund.
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.
Additional investors in the fund include Texas Municipal Retirement System and New Jersey State Investment Council.
Texas TRS committed $75 million to the fund’s predecessor, Stonepeak Infrastructure Fund II, which held a $3.5 billion hard-cap final close on Jan. 11, 2016.
Founded in 2011 and headquartered in New York, Stonepeak manages $7.3 billion of capital for its investors, as of Dec. 31, 2016.
