The $275 million Hollywood (Fla.) Employees’ Retirement Fund has committed $10 million to a global infrastructure fund managed by IFM Investors, according to recently released board meeting documents.
IFM primarily invests in core infrastructure in developed markets. The firm currently manages $24 billion on behalf of 170 institutional investors. IFM focuses mainly on investments in Australia, North America and Europe.
Earlier this year, the pension fund issued an invitation-only search due to the addition of a 2.5 percent target allocation to infrastructure. Segal Rogerscasey, the pension fund’s investment consultant, assisted with the search.