Springfield (Mo.) Police Officers' & Firefighters' Retirement System committed $14 million to IFM Global Infrastructure Fund, managed by IFM Investors, said Janell Manley, administrative director, in an email.
The $407 million pension fund conducted a shortlist search following the creation of a 3.5% infrastructure target after an asset allocation study in 2017. There were no other finalists.
As of Dec. 31, the actual allocation was 22% domestic equities, 19.4% domestic fixed income, 19% international equities, 12.6% international fixed income, 10.2% emerging markets equities, 7.6% alternative investments, 5.5% real estate and 3.7% cash and cash equivalents.
Investment consultant Segal Marco Advisors assisted.