Stonepeak Targets $15B for Infra Fund
Real assets investor Stonepeak has secured a commitment from the Rhode Island Employees’ Retirement System for its latest flagship fund, which is looking to raise at least $15 billion.
The pension fund has set aside $25 million for the vehicle, after commitments from other pension funds, including the Teachers’ Retirement System of Louisiana.
The private equity firm raised $14 billion for Stonepeak Infrastructure Fund IV’s final close in February 2022, more than doubling its $7.2 billion Fund III total and far above Fund IV’s initial $10 billion goal.
Stonepeak was already preparing to raise Fund V by November of that year, with the vehicle focusing on utilities, digital infrastructure, energy, data centers, and transportation.
The pension system also announced a $15 million investment in MCR Hospitality Fund IV, an opportunistic real estate fund managed by MCR Hotels.
