Ullico Infrastructure Fund (“UIF”), an infrastructure investment fund managed by Ullico Investment Advisors, Inc., today announced a follow-on investment in AES Southland Energy, LLC (“Southland”), a 1.5 GW portfolio of two combined-cycle gas generation assets and two battery energy storage assets located in Southern California and Arizona contracted under long term power purchase agreements with investment grade utilities.
Washington, D.C. (October 19, 2022) — Ullico Investment Advisors welcomes the addition of Jim Darcey to its team of investment professionals. Darcey will serve as Managing Director and help expand the company’s product offerings to include vehicles for real estate equity investments.
“Given our organizational structure and professional expertise, adding real estate equity to the product mix is a natural evolution. Jim will play a key role as we develop and launch those strategies,” said Joe Linehan, President of UIA.
Darcey previously worked at ASB Real Estate Investments as Managing Director, Portfolio Management and as a member of ASB’s Investment, Management, and Executive Committees. During his time there, Darcey and his teams originated and led successful funds. His experience includes fund formation, strategy formulation, capital raising, capital investment, asset management, asset sales, and fund dissolution.
“Ullico has a track record of launching new products successfully into the marketplace,” said Darcey. “I look forward to meeting with consultants and investors and sharing how our new solutions can benefit their members.”
The new real estate equity investment strategy will complement UIA’s existing investment vehicles, including its commercial real estate debt fund “J for Jobs,” its fixed income platform, and the Ullico Infrastructure Fund.
Edward M. Smith, President and CEO of Ullico Inc., said: “As a mission-driven organization, our job is to support the labor movement. As owners of real estate holdings, we would seek competitive returns for investors. At the same time, we would ensure that union members build, operate, and maintain our real estate assets.”
The Ullico Inc. family of companies provides insurance and investment solutions for labor organizations, union employers, institutional investors, and union members. Founded over 95 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.; and Ullico Investment Advisors, Inc. For additional information, visit www.ullico.com.