Chicago Metropolitan Water Reclamation District Retirement Fund is looking to commit between $50 million and $80 million to infrastructure funds.
The $1.6 billion pension fund issued an RFP for infrastructure for further diversification, said Brian Gillespie, investment officer. He said the pension fund does not currently have any exposure to infrastructure and is seeking that exposure because infrastructure returns are attractive and have a low correlation vs. other asset classes.
According to the RFP, the pension fund is primarily seeking open-end funds but will consider closed-end funds depending on the length of the lockup period.
The RFP is available on the pension fund’s website. Proposals are due by 3 p.m. CST on Feb. 21. A timeline for a selection has yet to be determined.
Investment consultant Marquette Associates is assisting.