Stonepeak Infrastructure Partners has closed its third infrastructure fund at its $7.2 billion hard cap, a news release said.
Stonepeak's latest fund, Stonepeak Infrastructure Fund III, exceeded its $5 billion fundraising target at its first close in October. The new fund is more than double Stonepeak's prior fund, the $3.5 billion Stonepeak Infrastructure Fund II, which closed, also at its hard cap in 2016.
Investors in the current fund include:
- the $100.4 billion Washington State Investment Board, Olympia.
- $78.1 billion Virginia Retirement System, Richmond.
- $76.6 billion Oregon Investment Council, Tigard, which runs the $74.2 billion Oregon Public Employees Retirement Fund.
- New Jersey Division of Investment, which manages the $78.6 billion New Jersey Pension Fund, Trenton.
- $28.5 billion Texas Employees Retirement System, Austin.
- $24.4 billion San Francisco City & County Employees' Retirement System.
- $14.3 billion Maine Public Employees Retirement System, Augusta.
- $8.3 billion Rhode Island State Investment Commission, Providence.
- $7.6 billion Missouri Local Government Employees Retirement System, Jefferson City.
- $2.8 billion Seattle City Employees' Retirement System.
A Stonepeak spokeswoman declined to comment beyond the news release.