The Firefighters Pension Investment Fund (FPIF) of Illinois has continued to build up its new infrastructure allocation by investing $80m (€76.1m) in infrastructure funds managed by Stonepeak and Global Infrastructure Partners.
The pension fund confirmed to IPE Real Assets that has committed $40m to Stonepeak Fund V and invested the same amount in GIP Fund V.
The moves follow a request for proposal issued earlier this year to select one to three infrastructure fund managers.
FPIF is planning to invest $80m per year to help reach its 4% infrastructure allocation target. Earlier this year, it made its debut investments in the asset class, committing $150m to funds managed by IFM Investors and KKR.
Stonepeak, which declined to comment, is seeking to raise $15bn for Fund V, which will invest in energy transition, transportation, logistics and communications assets in North America.
GIP Fund V is a $25bn vehicle and will invest mostly in energy, transportation, water/waste and digital infrastructure assets in OECD countries.
