CalSTRS invests $250m in Stonepeak’s North American infrastructure fund

The California State Teachers Retirement System (CalSTRS) recently announced a significant financial commitment of $250 million (€231.5 million) to Stonepeak’s North American infrastructure fund. This investment was made in the latter part of 2024, as per an official filing with the US Securities and Exchange Commission (SEC). The filing indicates that Stonepeak has successfully raised $7.3 billion from 98 investors for this infrastructure fund as of January this year.

Stonepeak’s Infrastructure Fund V is expected to have its initial close in the second quarter of this year, with the potential for total capital commitments reaching $10 billion. Despite numerous requests for comment, Stonepeak has chosen to remain silent on the matter.

In addition to its investment in Stonepeak’s fund, CalSTRS also disclosed the finalization of a £277 million co-investment for the Golden TARDIS investment, focusing on the transportation sector’s infrastructure. Unfortunately, further details regarding this co-investment were not provided by the pension fund.

CalSTRS, known for its strategic investment approach through its inflation-sensitive portfolio, is currently evaluating several potential investment opportunities. These include a planned $100 million commitment to ArcLight Infrastructure Partners 8. At the end of 2024, CalSTRS’ infrastructure portfolio stood at a value of $13.7 billion, accounting for 59% of its total inflation-sensitive assets, which amount to $23.3 billion.

Overall, CalSTRS’ recent financial commitments highlight its active involvement in the infrastructure sector and its ongoing efforts to optimize its investment portfolio.