Oklahoma Firefighters Pension & Retirement System, Oklahoma City, committed $100 million to IFM Global Infrastructure Fund, an open-end fund managed by IFM Investors.
The $3.2 billion pension fund issued an RFP in August. Brookfield Asset Management and J.P. Morgan Asset Management were the other finalists.
The commitment will be allocated to the pension fund's "other assets" portfolio, said Troy E. Brown, executive director at AndCo Consulting, the pension fund's investment consultant, which assisted with the search.
That asset class is currently underfunded relative to its 8% target, Mr. Brown said. Funding will likely come from the equity and fixed-income portfolios, Mr. Brown said.