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Investors - MARCH 8, 2017

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Philadelphia-based pension searches for listed infrastructure manager

by Jody Barhanovich

The $4.58 billion Philadelphia Board of Pensions and Retirement is seeking at least one investment manager to handle a publicly traded active infrastructure mandate.

The pension fund is hiring the new infrastructure manager as part of the its 5 percent long-term allocation to the asset class, according to Christopher DiFusco, CIO for the pension fund. As of Jan. 31, infrastructure investments comprise 0.1 percent of the pension fund’s total portfolio, according to an investment performance report on the pension fund’s website.

The pension fund hired Rhumbline to manage a passive infrastructure vehicle that is slated to receive $75 million upon successful contract negotiations, according to DiFusco.

A funding source for the allocation has yet to be determined. The RFP is available on the city's procurement website

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