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Airconditioning & Refrigeration Industry Retirement Plan
The Airconditioning & Refrigeration Industry Retirement Plan is a Taft-Hartley pension fund established through collective bargaining agreements in the...
Airconditioning & Refrigeration Industry Retirement Plan
The Airconditioning & Refrigeration Industry Retirement Plan is a Taft-Hartley pension fund established through collective bargaining agreements in the air conditioning and refrigeration trades. It is administered by Plan Administrator Brandon Mortorff and Plan Sponsor Randall Chenworth, with oversight from Glenn Santa Cruz as Business Manager of the affiliated UA Local 250. The fund pursues a multi-asset strategy anchored in buyout investments and real estate. Its real estate portfolio includes stakes in the BentallGreenOak US Core Plus Fund, a mixed-use property vehicle, and Ullico's Separate Account J, a commercial real estate mandate focused on job-creating projects. The fund also invests with Washington Capital Management in a dedicated real estate portfolio. Geographically, all known holdings are in the United States, concentrated in commercial and mixed-use real estate. The fund is estimated to manage roughly $300-350 million in assets (Altss estimate). It operates with a lean administrative team and affiliates through UA Local 250 and the Southern California Pipe Trades District Council 16, which provides governance and support. No operational events from the last 24 months have been publicly identified. The fund's structural differentiator is its Taft-Hartley framework: it is jointly trusteed by union and employer representatives, a governance model that aligns capital allocation with job creation and member retirement security. This structure shapes its investment preferences, including commitments to Ullico's J for Jobs fund, which explicitly targets employment-generating real estate.
General information
Firm type
Taft-Hartley Pension Fund
Year founded
—
AUM
$300-$350 million (Altss estimate)
Location
Region
North America
Country
United States
City
Orange
Corporate office
Orange, CA, United States
Principals
Brandon Mortorff
Plan Administrator
Randall Chenworth
Plan Sponsor
Glenn Santa Cruz
Business Manager of UA Local 250
Sector focus
Frequently asked questions
Who runs investment decisions at the Airconditioning & Refrigeration Industry Retirement Plan?
Plan Administrator Brandon Mortorff and Plan Sponsor Randall Chenworth oversee the fund's operations. Investment decisions are made within the Taft-Hartley trust structure, with oversight from the Board of Trustees representing both union and employer interests (per the fund's official filings).
Is this fund a single-family office or a multi-employer pension plan?
It is a multi-employer Taft-Hartley pension plan, not a family office. The fund is governed by a joint labor-management board and serves workers in the air conditioning and refrigeration industry in Southern California (public record).
What investment strategies does the fund employ?
The fund allocates primarily to buyout strategies and real estate investments. Known holdings include the BentallGreenOak US Core Plus Fund, Ullico Separate Account J for Jobs, and Washington Capital Management's real estate portfolio (Altss research).
Does the fund invest in direct deals or only through external managers?
Based on known holdings, the fund invests through external pooled vehicles and separate accounts rather than direct deal-by-deal investments. It uses manager partners like Ullico and BentallGreenOak to gain exposure to commercial and mixed-use real estate (Altss research).
How is the fund related to UA Local 250 and the Southern California Pipe Trades?
The fund is affiliated with UA Local 250, the union local for plumbers and pipefitters, and the Southern California Pipe Trades District Council 16, which provides administrative and governance support. Glenn Santa Cruz serves as Business Manager for UA Local 250 (per the fund's official records).
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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