The Oregon Public Employees Retirement Fund (PERF) and Maine Public Employees Retirement System (PERS) have backed a new vehicle managed by infrastructure fund manager Stonepeak.

Oregon PERF and Maine PERS have each approved a $250m (€244.5m) and $100m commitment respectively to Stonepeak Core Fund, the pension funds each disclosed in their board meeting documents.

According to sources, the Stonepeak fund is expected to invest in utilities, energy and transportation assets in North America.

The fundraising target of the new Stonepeak fund is currently unknown.

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