Stonepeak Infrastructure Partners is close to get US$650 million for its second North American infrastructure fund.

As its predecessor, this fund will be focused on individual investments in the range of US$75 million - US$300 million in North America mid-market infrastructure (USA & Canada), including the power, water, energy and transport sectors.

In November, we reported that Stonepeak Infrastructure Partners was seeking US$2.5 billion, with a US$3.5 billion hard cap, for its Stonepeak Infrastructure Fund II LP. That month the Seattle City Employees’ Retirement System invested US$ 8 million.

The Oregon Public Employees Retirement Fund recently announced it has invested US$400 million in the fund. The pension fund had also invested US$100 million in the first fund in 2012.

Additionaly, the Texas Employees Retirement System has committed a total of US$250 million to the fund and the Washington State Investment Board is planning a US$ 400 million commitment. 

Stonepeak Infrastructure Partners is a North America focused private equity firm, which invests in businesses comprised of hard assets with leading market positions.