Searches and Hires

Memphis Light, Gas & Water commits $15 million to Corry Capital Advisors longevity fund

Memphis Light, Gas & Water Division, Memphis, Tenn., committed $15 million to CCA Longevity Fund VI, a life settlement strategy managed by Corry Capital Advisors, said MLGW spokeswoman Tamara Nolen in an email.

The $1.5 billion pension fund previously committed $15 million to Corry Capital Advisors' CCA Black Fund in 2015.

The pension fund also made a follow-on commitment of $10 million to Vida Longevity Fund, a life settlement fund managed by Vida Capital Management. The pension fund originally committed $15 million in 2015.

As of Sept. 30, the pension fund's actual allocation to alternatives was 7.9%.

Investment consultant Gavion assisted.