California State Teachers Retirement System (CalSTRS) has disclosed making a $250m (€231.5m) commitment to Stonepeak’s North American infrastructure fund.
The pension fund said it committed capital to Stonepeak Infrastructure Fund V in the latter half of 2024. A US Securities and Exchange Commission (SEC) filing reveals that Stonepeak raised $7.3bn from 98 investors for the infrastructure fund as of January this year.
Fund V’s initial close is expected in the second quarter of this year, with total capital commitments possibly reaching $10bn.
Stonepeak has declined a request for comment.
CalSTRS also disclosed the closing of a £277m co-investment for the Golden TARDIS investment, which will invest in transportation sector infrastructure. The pension fund did not provide further details on the investment.
CalSTRS, which invests in infrastructure through its inflation-sensitive portfolio, said it has a number of ongoing potential investments, including a planned $100m commitment to ArcLight Infrastructure Partners 8.
As of the end of 2024, the pension fund’s infrastructure portfolio was valued at $13.7bn, representing 59% of its $23.3bn inflation-sensitive assets.
To read the latest IPE Real Assets magazine click here.
