Illinois Teachers Commits $250m to Stonepeak Fund

TL/DR -

Illinois Teachers' Retirement System has committed $250m to Stonepeak Infrastructure Fund V, which aims to raise $15bn to invest in 12-15 North American companies across sectors such as energy transition, transportation, logistics, and communications. The deal expands the existing partnership between the pension fund and Stonepeak, which already manages $130m of the fund's real assets investments. The focus is currently on deploying the remaining capital of Fund IV, which raised $14bn at its close in February 2022, before initiating transactions for Fund V.

Illinois Teachers Approves $250m Commitment to Stonepeak's Latest Infrastructure Fund

The Teachers' Retirement System of the State of Illinois (Illinois Teachers) has pledged $250m to Stonepeak Infrastructure Fund V, reinforcing their existing collaboration. Stonepeak currently manages $130m of Illinois Teachers' real assets investments.

Stonepeak aims to secure $15bn for Fund V, purposing 12-15 investments in North American corporations specializing in energy transition, transportation, logistics, and communications. Each transaction is expected to range from $500m to $1.5bn, held for 5-7 years.

The preceding fund in the series, Fund IV, accumulated $14bn in February 2022. Unlike Fund V, which has not yet completed any investments, Stonepeak is presently utilizing the remaining capital of Fund IV.

The two commingled funds share a common strategy: investing in North American infrastructure assets. Stonepeak declined to comment further.

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