New Mexico Educational Retirement Board, Santa Fe, committed $50 million to Stonepeak Infrastructure Fund II, managed by Stonepeak Infrastructure Partners, said Bob Jacksha, chief investment officer for the $11.4 billion pension plan, in an e-mail.
The pension plan is an investor in the $1.65 billion Stonepeak Infrastructure Fund I, which closed in 2013. Stonepeak — founded by former members of Blackstone Group’s infrastructure investment team — invests in North American middle-market infrastructure investments in the water and utilities, energy and power, and transportation sectors.
Separately, the pension fund earned a 4% return for the fiscal year ended June 30 compared to its benchmark return for the same period of 2.9%. The top performing asset class for the year ended June 30 was private real estate at 19.2%; emerging market debt was the worst performing asset class at -10.9%.