Cook County Pension Fund, Chicago, approved three infrastructure fund commitments totaling $250 million, its first to the asset class.
The $12.7 billion pension fund's board approved commitments of $150 million to secondaries-focused closed-end fund Pantheon Global Infrastructure Fund IV and $50 million each to Brookfield Super-Core Infrastructure Partners, an open-end fund managed by Brookfield Asset Management, and IFM Global Infrastructure Fund, an open-end fund managed by IFM Investors, at its Dec. 7 meeting, recently released meeting minutes show.
The pension fund issued an RFP in September because its improved funding is allowing investment staff to "harvest more of the illiquidity premium that private markets offer," said Uwe Schillhorn, chief investment officer, at the time.
The pension fund has a target allocation of 2% to private infrastructure, but the pension fund had yet to make any infrastructure commitments, he said at the time.
Investment consultant Callan assisted.