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Chicago Teachers invests in infrastructure

by Zoë Wolff

The $10.9 billion Public School Teachers Pension & Retirement Fund of Chicago has committed $50 million to Brookfield Infrastructure Fund III, according to a spokesperson for the pension fund.

This is the pension fund’s first investment with a fund managed by Brookfield Asset Management. The pension fund has a 3 percent target allocation to infrastructure and an actual allocation to the asset class of 2.1 percent.

The fund’s predecessor, Brookfield Infrastructure Fund II, held a final close of $7 billion in October 2013. The fund invests in infrastructure, mainly in the United States and Canada, though 25 percent was allocated to Europe and 14 percent to Australia and New Zealand.

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