Washington D.C. (November 10, 2020) – Ullico announced that the Ullico Infrastructure Fund (UIF) has secured more than $3 billion in commitments from investors in less than 10 years. UIF made its first investment in 2012 and was designed to assist in the construction, maintenance and refurbishment of America's infrastructure.
It has made good on that promise, with over $2 billion in assets under management and 18 portfolio investments comprising all major sectors, including renewable energy, natural gas generation, electricity transmission, gas transmission, water and wastewater, transportation and social infrastructure (as of Sept. 30, 2020).
"This is a huge milestone for the Ullico Infrastructure Fund. It’s a reflection on the quality of our team and the trust that our clients have in Ullico to serve their economic interests and support their missions and values," said Joseph R. Linehan, President of Ullico Investment Advisors.
"U.S. infrastructure has been deteriorating for decades. Rather than wait for legislators to act, unions stepped up and made deliberate investments in infrastructure through the Ullico Infrastructure Fund. Once again, the labor movement is responsible for keeping the nation strong," said Edward M. Smith, President and CEO of Ullico Inc.
In addition to its goal of providing investors with appropriate risk-adjusted returns, UIF also promotes the preservation and creation of union jobs through its Responsible Contractor Policies. In fact, Ullico recently achieved a 100 percent rating on the North America's Building Trades Unions (NABTU) Infrastructure Manager Report Card, which scores infrastructure asset managers on 10 different criteria, including Effectiveness, Coverage, Reports Work Hours, Policy Enforcement Provisions and the use of PLAs.
"Pension funds have the opportunity to benefit from investing in UIF and so does the labor movement overall. Ullico works with our investment partners and public counterparties to efficiently operate and maintain these essential assets. When projects require new construction or maintenance, UIF puts union members and union contractors to work," said Sonia Axter, Managing Director, Ullico Infrastructure Fund.
The Ullico Inc. family of companies provides insurance and investment solutions for labor organizations, union employers, institutional investors and union members. Founded 90 years ago, the company takes a proactive approach to anticipating labor's needs, developing innovative financial and risk solutions and delivering value to our clients. Our products are tailored to promote financial security and stability for American workers.
The Ullico Inc. family of companies includes The Union Labor Life Insurance Company; Ullico Casualty Group, LLC.; Ullico Investment Company, LLC.; Ullico Investment Advisors, Inc.; and Ullico Benefit Solutions, LLC. For additional information, visit www.ullico.com.
Ullico Infrastructure Tax-Exempt Fund, LP:
The Ullico Infrastructure Tax-Exempt Fund, LP ("UIF") is a Delaware limited partnership designed to permit qualified tax-exempt purchasers to invest in core infrastructure investments located in the United States and Canada. The fund and the units issued will not be registered under the Securities Act of 1933, as amended, the Investment Company Act of 1940, as amended, or under state securities laws. UIF is being offered and sold in reliance on the exemption from the securities registration requirements of the Securities Act set forth in Regulation D (the "Rule"). UIF will only be sold to "accredited investors" as that term is defined under the Rule. The portfolio consists primarily of private equity and debt investments in infrastructure companies located in the United States and Canada. UIF does not have a meaningful comparison because there is no benchmark available for private infrastructure investments. The Ullico Infrastructure Tax-Exempt Fund, LP was incepted in November 2012.
Ullico Investment Advisors, Inc. ("UIA") is a registered investment adviser with the United States Securities and Exchange Commission ("SEC") in accordance with the Investment Advisers Act of 1940, as amended. Ullico Investment Advisors, Inc. has two majority owned subsidiaries: Ullico Infrastructure Management Company, LLC and UIA Investment Management, LLC. Both are Relying Advisers in reliance upon the SEC staff's no-action letter to the American Bar Association dated January 18, 2012. The firm's full list of composite and pooled fund descriptions is available upon request.