News / City of London corporation awards 45 million infrastructure mandate to IFM investors

City of London corporation awards 45 million infrastructure mandate to IFM investors

🕔 October 24, 2013
US$3 billion final close for Macquarie Super Core Infrastucture Fund Series 1

City of London Corporation has awarded a £45 million infrastructure mandate for its pension fund and Bridge House Estates portfolios to IFM Investors.

The £720 million City of London Corporation Pension Fund serves 11,000 members, while the Bridge House Estates Fund holds securities of £470 million and uses the income to maintain Thames bridges and make charitable grants through its City Bridge Trust, founded in 1282.

City of London Corporation treasurer Paul Mathews said:

"Infrastructure is an increasingly important asset class in portfolios, with its attributes for matching long-term liabilities particularly compelling.

"IFM Investors' open-end fund structure and focus on investing in long-lived, core infrastructure really stood out for us, as did being able to invest in an existing portfolio of cash generating assets with exposure to the UK."

IFM Investors executive director for business development Annabel Wiscarson said:

"We look forward to working with the City of London Corporation, supporting its long-term investment objectives with our 18 years' experience in managing infrastructure assets and delivering value to investors throughout market cycles.

"Institutional investors are reassessing their defensive asset allocations to achieve more diversification, and we see demand for infrastructure continuing to grow as investors become increasingly well-informed about the sector."

IFM has roots dating back to 1990 and is owned by 30 Australian pension funds. As we announced yesterday, the firm has recently changed its name to IFM Investors.

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