The $116.09 billion Teacher Retirement System of Texas invested $219 million in the recently closed Stonepeak Infrastructure Partners Fund I. This is the retirement system’s first commitment to the infrastructure fund.
As of June 30, 2013, TRS had $1.15 billion invested in private infrastructure funds, with commitments of $1.87 billion. The pension fund started investing in the infrastructure sector in 2008.
Stonepeak Infrastructure Partners Fund I closed in October with $1.65 billion in equity commitments, exceeding its $1 billion fundraising goal. SIPF I will make investments in the North American middle-market water and utilities, energy and power, and transportation sectors.
Stonepeak Infrastructure Partners is a spinoff founded by former members of private equity firm The Blackstone Group.