City of Knoxville confirms $32m in commitments

The US public pension has backed a pair of open-ended infrastructure vehicles.

Institution: City of Knoxville Pension Board
Headquarters: Tennessee, United States
AUM: $630.0million
Allocation to alternatives: 19.20%
Bitesize: $10-50m

City of Knoxville Pension Board has agreed to $32 million-worth of commitments across two infrastructure vehicles, according to the pension’s December 2019 meeting minutes. The vehicles comprise of two open-end infrastructure funds managed by IFM Investors and Ullico Investment Advisors respectively.

IFM Investors will receive a $21 million commitment from the pension, with Ullico Investment Advisors receiving the remaining $11 million. The specific vehicles which will be receiving the commitments are yet to be disclosed.

The investments will be made out of the $630 million pension’s real assets portfolio, which comprised of 15.10 percent of total assets of June 2019.

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