CTPF Trustees Adopt Resolution Affirming Commitment to U.S. Infrastructure Investment
The Chicago Teachers’ Pension Fund (CTPF) Board of Trustees unanimously voted to adopt a resolution affirming its commitment to U.S. infrastructure investment during its meeting on September 21, 2017.
Citing the critical role that infrastructure plays in delivering economic growth, reducing poverty, and addressing development challenges, the resolution recognized that U.S. infrastructure investments safeguard the health and safety of our collective society and are in the best interest of the Fund and its members.
“Our Trustees took an important step in publicly affirming our support for U.S. infrastructure investments. Our Board of Trustees has made U.S. infrastructure investments a priority since 2009, and we have committed more than $360 million to this asset class since that time. As responsible stewards of public funds, we appreciate the opportunities that infrastructure investments present not just to meet our investment goals, but also to promote the public good. These investments pay dividends not just as an investment return, but in a much broader sense, providing jobs in the skilled trades, supporting families, and helping grow the economy,” said Jay C. Rehak, President of the CTPF Board of Trustees.
The Trustees considered evidence offered by the American Society of Civil Engineers in their “2017 Report Card for U.S. infrastructure,” which evaluated U.S. aviation, bridges, dams, drinking water, energy, solid waste, transit, and wastewater and gave these facilities a D+ overall rating. Furthermore, the Trustees noted that recent natural disasters have underscored the need to rebuild, maintain, and improve aging U.S. infrastructure systems to address long-term issues of urbanization and climate change.
“We know that many funds have begun to consider infrastructure as a way to diversify portfolios in a low-interest rate environment,” said Charles A. Burbridge, CTPF Executive Director. “This resolution underscores our Trustees’ leadership in this area, and highlights their commitment to making impactful and responsible investments of public funds.”