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Memphis Light, Gas & Water Division OPEB Trust (MLGW)
The Memphis Light, Gas & Water Division OPEB Trust was established in 2007 by the parent utility to segregate funding for retiree health obligations.
Memphis Light, Gas & Water Division OPEB Trust (MLGW)
The Memphis Light, Gas & Water Division OPEB Trust was established in 2007 by the parent utility to segregate funding for retiree health obligations. The City of Memphis maintains oversight through its council and appointed committee members. The trust deploys capital into real estate funds valued at $326 million that include timber and infrastructure exposure. It also holds $81 million across four life settlement hedge funds. Confirmed limited partner positions include GoldenTree Private Credit Fund II, Ares Pathfinder Fund III, SSM Growth Equity Fund IV, and Brookfield Infrastructure II-B. All commitments sit within the United States and global markets. The trust lists 21 enriched network items covering assets, providers, and relationships. Northern Trust has served as custodian since 2007. CBIZ Investment Advisory Services acts as investment advisor with Robert Longfield as primary contact. Forvis Mazars serves as independent auditor since 2023. Governance flows through the City of Memphis, which controls board appointments and major resolutions for the trust.
General information
Firm type
Pension Fund
Year founded
1939
Location
Region
North America
Country
United States
City
Memphis
Principals
Carl Person
Chairman of the OPEB Trust Investment Committee
Doug McGowen
Member of the OPEB Trust Investment Committee
Rodney Cleek
Secretary-Treasurer of the OPEB Trust Investment Committee
Sector focus
Frequently asked questions
Who runs investment decisions at Memphis Light, Gas & Water Division OPEB Trust?
Carl Person serves as chairman of the OPEB Trust Investment Committee. Doug McGowen and Rodney Cleek also sit on the committee.
What asset classes does the trust hold?
The trust maintains exposure to real estate funds, life settlement hedge funds, private credit, distressed debt, and infrastructure.
How is the trust related to the City of Memphis?
MLGW is a division of the City of Memphis. The City Council approves board appointments and major resolutions for the OPEB Trust.
Which service providers support the trust?
Northern Trust acts as custodian. CBIZ Investment Advisory Services provides investment advice. Forvis Mazars serves as independent auditor.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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