Stonepeak Receives $75M for Infrastructure Fund from Texas Pension

Stonepeak Infrastructure Partners received a $75 million commitment for its Stonepeak Opportunities Fund from the Texas Employees’ Retirement System in Austin

The closed-end fund invests in middle-market diversified infrastructure deals in North America as well as Europe.

The pension fund has allocated to eight Stonepeak funds and the $35 billion New York manager makes up roughly 18% of the $2 billion-plus infrastructure portfolio.

The infrastructure asset class makes up roughly 6% of the pension assets, which puts the exposure above the 5% target set up in the Texas ERS investment policy.

For the year ending June 30, the system saw a return of 7.5%. Officials said in August that the largest contributors to the system’s annual performance were infrastructure along with private real estate and private equity.

Pictured: Texas Employees’ Retirement System, downtown Austin