Stonepeak’s latest mid-market infrastructure fund has secured capital commitments from Virginia Retirement System and Seattle City Employees Retirement System.
Virginia Retirement System and the Seattle City Employees Retirement System have committed $100m (€85.3m) and $20m, respectively, to Stonepeak Opportunities Fund II, according to board meeting documents disclosed by the pension funds.
Fund II, which has a $3.5bn target and a $4bn hard cap, reached a first close in December last year. The vehicle is expected to reach a final close by mid-year, according to sources familiar with the matter.
Fund II will invest in core-plus or value-add assets across North America and Europe, targeting sectors including communications, transportation and logistics, energy and energy transition.
Stonepeak declined a request for comment.
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