Maryland State Retirement and Pension System has approved a $250m (€220.3m) commitment to Stonepeak’s open-ended OECD-focused core infrastructure fund.

The $69.5bn pension fund disclosed in a meeting document that it has committed the capital to the Stonepeak Core Fund.

As previously reported, Stonepeak is seeking to raise an initial $5bn to target the communications, energy transition, transportation and logistics infrastructure sectors. The fund targets gross returns of 8% to 11%.

According to an SEC filing, Stonepeak had secured $3.7bn in capital commitments as of the end of 2024.

Stonepeak declined a request for comment.

As of the end of March 2025, Maryland State Retirement’s infrastructure and natural resources portfolio held a market value of $3.5bn.

Within this portfolio, 68% is currently allocated to infrastructure, compared with the portfolio’s 80% target allocation for infrastructure.

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