Virginia pension commits $100m to Stonepeak

The US fund landed a commitment from the Virginia Retirement System.

Virginia Retirement System (VRS) in Richmond, Virginia, has pledged $100 million to Stonepeak Infrastructure Fund, a spokeswoman with the $59 billion pension plan confirmed.

The allocation to Stonepeak marked the most recent infrastructure investment for Virginia: last August, the pension invested $450 million in the asset class, committing $150 million to Global Infrastructure Partners (GIP) and giving Industry Funds Management (IFM) $300 million for its IFM Global Infrastructure Fund.

The investment with Stonepeak came as part of a $740 million real asset and private equity allocation. VRS also committed $200 million to First Reserve XIII, $12 million to Matrix Partners X, $275 million to Olympus Growth Fund VI and $60 million to The Forrest Company.

In addition, Virginia invested in a listed infrastructure vehicle, funneling $100 million to the Brookfield Global Listed Infrastructure Income Fund.

Counting Virginia, Stonepeak Infrastructure Fund, a vehicle managed by Stonepeak Infrastructure Partners in New York, has secured in excess of $800 million in US pension capital.

In 2012, Stonepeak scored $100 million from the Oregon Public Employees Retirement Fund, a $250 million investment from the Washington State Investment Board, and a $40 million commitment from the New Mexico Educational Retirement Board.

Stonepeak also has a $400 million anchor commitment from TIAA-CREF. The fund is targeting $1 billion.