# BAC Local #23 North Shore Chapter Pension Fund

BAC Local #23 North Shore Chapter Pension Fund is a Pension Fund based in Amherst, United States.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Amherst, United States
- **Region:** North America
- **Address:** Amherst, OH, United States
- **Founded:** 1961
- **Assets under management:** $98M (Altss estimate)

## Regulatory record

- **Reports private funds:** No

## About

BAC Local 23 North Shore Chapter Pension Fund is a defined benefit plan serving eligible employees in Valley View, United States. It focuses on investments in the private equity sector, specifically biotech and life science companies.

## Sectors

- Real Estate
- Secondaries & Special Situations

## People

- Mike Soltis — Organizer and Field Representative

## Questions

### Who oversees investment decisions for the BAC Local #23 fund?

A joint board of trustees — composed of representatives from the International Union of Bricklayers and Allied Craftworkers and contributing employers from the Construction Employers Association — governs investment policy. Mike Soltis serves as the Organizer and Field Representative for the North Shore Chapter and is a named operational contact for the fund. Specific trustee names and investment consultant relationships, if any, are not publicly disclosed.

### Is the fund's capital managed internally or outsourced?

Taft-Hartley pension funds of this scale most commonly engage an external investment consultant and delegated fiduciary, but the BAC Local #23 North Shore Chapter Pension Fund does not publicly name any specific OCIO or advisory relationship. Board trustees retain ultimate fiduciary responsibility for asset allocation and manager selection under ERISA.

### Why does the fund emphasize secondary-market transactions?

Secondaries allow a smaller pension plan to access seasoned private-market portfolios at a potential discount, with reduced blind-pool risk and faster capital deployment. This posture aligns with the fiduciary duty to avoid undue portfolio volatility and provides a more immediate cash-flow profile — important for a plan servicing retired construction workers in northeast Ohio.

### How does the pension fund relate to the International Union of Bricklayers and Allied Craftworkers?

Local #23 North Shore Chapter is a constituent chapter of the International Union of Bricklayers and Allied Craftworkers, which is the parent labor organization. The pension fund operates as an independent multiemployer trust established through collective bargaining agreements between the local union and signatory contractors, with both parties represented on the board of trustees.

## Related profiles

- [Sheet Metal Workers Local 46](https://altss.com/profile/sheet-metal-workers-local-46)
- [Foundation for Child Development](https://altss.com/profile/foundation-for-child-development-fcd)

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

Canonical page: https://altss.com/profile/bac-local-23-north-shore-chapter-pension-fund

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