Norwood (Mass.) Contributory Retirement System committed $15 million to an open-end infrastructure fund managed by IFM Investors, said Debra Wilkes, executive director.
The $205 million pension fund issued an RFP in July for open-end infrastructure funds to comply with Massachusetts Public Employee Retirement Administration Commission requirements that services are put up for bid every seven years.
The pension fund originally made a commitment to the IFM Investors open-end fund in 2017 following its first search for the asset class.
Wilkes did not provide the name of the fund and did not say whether there were any other finalists.
Investment consultant Meketa Investment Group assisted.
