Maine Public Employees Retirement System (PERS) is planning to approve a $50m (€46.6m) commitment to Stonepeak’s latest infrastructure fund.
The pension fund disclosed in a meeting document that it intends to place the capital into the Stonepeak Opportunities Fund, a fund seeking to raise $2.5bn.
The commitment by Maine PERS will represent the pension fund’s first infrastructure commitment for 2023. The pension fund committed $200m to infrastructure last year and made $180m of infrastructure commitments the year in 2021.
Maine PERS disclosed that its previous commitments to Stonepeak have produced interim net returns ranging from 13.6% to 18.2%.
Maine PERS currently has an infrastructure portfolio valued at $2.2bn or 12.2% of total plan assets, this compares with an allocation target of 10%.
As previously reported, the Teachers’ Retirement System of Louisiana also approved a $50m commitment to the Stonepeak Opportunities Fund which targets a mixture of energy transition, social, digital and transportation/logistics investment opportunities in North America or Europe.
Stonepeak declined a request for comment.
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