Teachers’ Retirement System of Louisiana (TRSL) has approved a $50m (€45.6m) commitment to the Stonepeak Infrastructure Fund V, the pension fund disclosed in a board meeting document.
The commitment to the Stonepeak-managed vehicle is TRSL’s second infrastructure commitment to close during its 2024 fiscal year which started in July last year. The other commitment was for $50m into the Castlelake Aviation V Stable Yield.
As previously reported, TRSL has set an infrastructure pacing of up to $200m for the fiscal 2024 financial year ending 30 June.
The Stonepeak fund which will mostly be looking for core-plus opportunities, will occasionally invest in build-to-core or value-add opportunities, according to TRSL.
As previously reported, the Stonepeak fund has a target size of $15bn.
Stonepeak Infrastructure Fund V plans 12 to 15 investments in North American companies across energy transition, transportation, logistics, and communications, with each deal ranging from $500m to $1.5bn and held for 5-7 years.
Stonepeak Partners declined a request for comment.
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