Amalgamated Bank of Chicago hired real asset investment manager Capital Innovations as a subadviser to the AmalgaTrust Funds and as a strategic investment partner for real asset investment to the bank, confirmed William Uher, senior vice president, director of trust and investment services at Amalgamated.
Real assets is a new asset class for Amalgamated's clients, Mr. Uher said.
Capital Innovations will offer Amalgamated Bank of Chicago access to real assets, including timber, agriculture and infrastructure for Amalgamated clients. The bank's clients include Taft-Hartley and labor retirement savings plans, said Michael Underhill, chief investment officer of Capital Innovations.
“The global investment landscape continues to evolve, so too must the asset allocations for Taft-Hartley Funds and labor retirement savings plans,” said Rob Wrobel, Amalgamated Bank of Chicago's chairman, president and CEO, in a written statement. “Amalgamated has always sought to deliver outstanding investment management services to our clients and Capital Innovations fills a unique segment in our institutional investment strategy lineup with its infrastructure offerings, timber offerings, agribusiness offerings.”