Chicago pension commits $50m to infrastructure fund
The $2.3 billion Chicago Policemen’s Annuity & Benefit Fund has committed $50 million to Ullico Infrastructure Fund, according to spokeswoman Aoifinn Devitt.
The open-end infrastructure fund is managed by Ullico Investment Advisors. Ullico currently has investments in the utility and energy sectors in the United States and is exploring opportunities in all core infrastructure sectors, including transportation and social infrastructure. The firm has made capital improvements to the water and wastewater infrastructure of Rialto, Calif.; acquired a minority stake in an operating wind farm in the United States; and was a lender to a solar power field owner.
The Chicago pension has a target allocation to infrastructure of 4 percent.