Teachers’ Retirement System of Louisiana (TRSL) has approved a $50m (€42.9m) commitment to Stonepeak’s latest mid-market infrastructure fund.
The pension fund said it has committed the capital to the Stonepeak Opportunities Fund II fund.
Fund II, which had a first close in December of last year, is expected to have a final close by the middle of the year, according to sources familiar with the matter.
According to board documents from TRSL’s investment consultant StepStone, Stonepeak has set a $4bn hard cap for its second fund with a $3.5bn target.
The previous fund in the series surpassed its initial $2.5bn target, closing at a revised hard cap of $3.15bn in August 2024. At the time, the manager said the fund would target core-plus and value-add opportunities in North America and Europe.
Stonepeak declined a request for comment.
Following its commitment to Fund II, TRSL has around $100m to commit to infrastructure for the current fiscal year ending 30 June, as well as a possible real estate allocation of $200m for core and $475m for non-core strategies.
To read the latest IPE Real Assets magazine click here.
