El Paso (Texas) Firemen & Policemen’s Pension Fund has made two commitments to open-end funds managed by IFM Investors and Ullico Investment Advisors.
The Texas pension fund committed $51 million to the IFM Global Infrastructure Fund and $17 million to the Ullico Infrastructure Tax-Exempt Fund.
IFM Global Infrastructure Fund will invest in the energy, social infrastructure, transport, water and wastewater sectors. The fund has collected more than $8.5 billion to date, according to IREI’s FundTracker database.
Like the IFM Global Infrastructure Fund, the Ullico Infrastructure Tax-Exempt Fund is targeting investments in the energy, social infrastructure, transport and utilities sectors. The vehicle has raised more than $1.4 billion to date.
A spokesperson for El Paso confirmed these were both first-time commitments with these managers. The pension fund has a 5 percent target allocation to infrastructure, which includes 1 percent of private equity ex