Chicago Firemen's Annuity & Benefit Fund approved commitments of up to $15 million each to open-end infrastructure funds managed by IFM Investors and Ullico Investment Advisors.
The $1 billion pension fund's board approved the commitments at its June 15 meeting, recently released meeting minutes show. The minutes did not provide the names of the funds.
The pension fund had issued an RFP in February for one or more private open-end infrastructure funds, according to the RFP.
According to the RFP, the pension fund's target to infrastructure is 3%.
As of March 31, according to the pension fund's most recent available investment report, there was no actual allocation to infrastructure.
Investment consultant Callan assisted.
Lorna Scott, chief investment officer, could not be immediately reached for further information.
