ROCKFORD– Illinois State Treasurer Michael Frerichs launched the breakthrough FIRST Fund investment portfolio to jump-start local construction projects, foster economic development, and create good‑paying jobs while generating investment returns for state taxpayers.

Joined Wednesday by Illinois labor leaders, Frerichs announced a $75 million investment in the Ullico Infrastructure Fund, a $4.5 billion effort that supports projects in the power, utilities, energy, transportation and digital sectors.

Ullico provides insurance and investment solutions for labor organizations, union employers, institutional investors and union members.

For every $1 invested from FIRST Fund, the law requires a $2 matching investment into Illinois projects, essentially doubling Illinois’ job-producing power. FIRST Fund has a total of $1.5 billion available to invest.

The Treasurer’s Office is working with leading global investment firm RockCreek Group, which is advising on opportunities and strategy for the FIRST Fund.

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