The Employees Retirement System (ERS) of Texas has recently invested US$75 million in Stonepeak Opportunities Fund (SOF), an infrastructure fund managed by Stonepeak Infrastructure Partners.

SOF aims to raise US$2.5 billion and focuses its investments on sectors such as digital infrastructure, energy transition, transportation and logistics, and social infrastructure. Notable recent investors in the fund comprise the Employees’ Retirement System of Rhode Island, the Seattle City Employees' Retirement System, the Teachers' Retirement System of Louisiana, and the Washington State Investment Board.

Texas ERS, responsible for managing approximately US$35.8 billion in assets, had a 6% allocation to infrastructure, surpassing its 5% strategic target.