The Virginia Retirement System (VRS) has committed $200 million to Stonepeak Infrastructure Fund V (SIF V), according to recent meeting documents.
Managed by New York City–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.
VRS has made prior commitments to Stonepeak, including a $100 million commitment to Stonepeak Opportunities Fund in 2022 and a $100 million commitment to Stonepeak Infrastructure Fund in 2013.