The $898 million Clearwater (Fla.) Employees’ Pension Fund has committed $30 million to IFM Global Infrastructure Fund, according to recently released meeting documents.
The open-end fund, managed by IFM Investors, targets core-like infrastructure assets globally, with a focus on developed markets such as Australia, Europe and the United States. Other investors in the fund include the Maine Public Employees Retirement System and the Illinois State Board of Investment.
Earlier this year, the pension fund launched a search for an investment manager to “further diversify the plan’s portfolio,” said the meeting minutes. The other two finalists were J.P. Morgan Asset Management and UBS Global Asset Management.
The pension fund has a 3.5 percent allocation to infrastructure.