Oregon Public Employees Retirement Fund (PERF) is investing $350m (€329m) in Stonepeak’s latest flagship infrastructure fund as part of the $1.5bn it has earmarked for real assets this year.
Rex Kim, CIO of the Oregon Investment Council, told a board meeting that the pension fund had approved a $350m commitment to Stonepeak Infrastructure Fund V.
As previously reported, Stonepeak is seeking to raise $15bn for the fund and has attracted US pension funds including Virginia Retirement System.
Stonepeak did not comment.
Oregon PERF has set a pacing plan for real assets that will see it commit up to $1.5bn in 2024, making individual commitments of between $150m and $350m.
Most of the capital is expected to be allocated to infrastructure – with a focus on transportation, power, utilities, communication and social assets – but it will also consider natural resources.
Stonepeak Infrastructure Fund V is designed to invest in the energy-transition, transportation, logistics and communications sectors.
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