The Miami Firefighters and Police Retirement Trust has hired IFM as its core infrastructure manager according to minutes from the February 15th Board meeting.
$50 million will be awarded to IFM’s core infrastructure strategy.
Investment consultant Meketa assisted with the decision. J.P. Morgan was the other finalist considered for the search.
BlackRock is the current sole infrastructure manager for the pension fund.
As of September 30, 2023, the $1.8 billion pension fund allocates 1.0% to infrastructure with a target of 3%. Prior to this selection the only infrastructure manager was BlackRock.
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