Missouri Local Government Employees Retirement System (LAGERS) has placed $75m (€70.8m) into the Stonepeak Opportunities Fund.
Meghan Loehner, the deputy CIO of Missouri LAGERS, said: “We had invested in Stonepeak’s flagship infrastructure fund when the manager was focused on the middle market space and the flagship fund has since outgrown the space.
“The Stonepeak Opportunities Fund, allows Stonepeak to go back to its roots and focus on the middle market space with a dedicated team we believe in.”
Stonepeak is seeking a $2.5bn capital raise for the fund which will mainly invest in energy transition, transportation/logistics, digital and social infrastructure sectors in Europe and North America.
Stonepeak declined a request for comment.
Missouri LAGERS has approved a $50m commitment into a co-investment vehicle to invest alongside Portfolio Advisors Real Estate Fund VIII.
“Missouri LAGERS has been a long-standing investor with Portfolio Advisor’s secondaries and co-investment programmes and we appreciate their theme-based sponsor-driven, market position and their ability to execute on LP secondary solutions, particularly in the current market environment,” Loehner said.
Most of the transactions for the fund are with existing assets with some new development opportunities being considered.
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