# Memphis Light, Gas & Water Division OPEB Trust (MLGW)

Memphis Light, Gas & Water Division OPEB Trust (MLGW) is a Pension Fund based in Memphis, United States.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Memphis, United States
- **Region:** North America
- **Founded:** 1939
- **Assets under management:** 757 (Altss estimate)
- **Website:** https://mlgw.com
- **LinkedIn:** https://www.linkedin.com/company/mlgw

## Regulatory record

- **Reports private funds:** No

## About

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.

## Sectors

- Real Estate
- Infrastructure
- Private Credit

## People

- 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

## 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.

## Related profiles

- [American Institutes for Research](https://altss.com/profile/american-institutes-for-research)
- [Íslenski lífeyrissjóðurinn](https://altss.com/profile/slenski-l-feyrissj-urinn)

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Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/memphis-light-gas-water-division-opeb-trust-mlgw

Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology