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Bay Area Painters & Tapers Trust
The Bay Area Painters & Tapers Trust was established as a Taft-Hartley multi-employer pension fund serving members of IUPAT District Council 16 and...
Bay Area Painters & Tapers Trust
The Bay Area Painters & Tapers Trust was established as a Taft-Hartley multi-employer pension fund serving members of IUPAT District Council 16 and participating employers like the Northern California Painting and Finishing Contractors. The trust is governed by a board of five trustees — three from labor and two from management — who oversee benefit administration and investment strategy. The trust's investment portfolio leans heavily toward buyout strategies, with public records indicating a series of direct real estate holdings. These include the mixed-use office and apartment complex at 4160 Dublin Boulevard in Dublin, CA, and a commercial property at 1640 Loop Road in Alameda, CA. The fund also holds a position in the McMorgan Principal Preservation Fund, a fixed-income vehicle based in San Francisco. Total assets under management are not publicly disclosed, but internal estimates place the trust at approximately $642 million. The trust maintains its headquarters in Dublin, CA, and works closely with IUPAT District Council 16 and the Northern California Drywall Contractors Association. As a Taft-Hartley plan, the trust is jointly administered by labor and management trustees, a structure that aligns investment decisions with the interests of union members and contributing employers. The trust operates primarily through direct real estate and private credit investments, distinct from the broader market allocations of many corporate pension funds.
General information
Firm type
Pension Fund
Year founded
—
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Dublin
Corporate office
Dublin, CA, United States
Principals
John Sherak
Union Trustee representing IUPAT District Council 16
Joe Upchurch
Union Trustee representing Glaziers Local 169
John Maggiore
Management Trustee and Secretary
Steve Rossa
Management Trustee
Steve Eckstrom
Management Trustee
Sector focus
Frequently asked questions
Who runs investment decisions at the Bay Area Painters & Tapers Trust?
The trust is governed by a board of five trustees — three union-appointed and two management-appointed. John Sherak (IUPAT District Council 16) and Joe Upchurch (Glaziers Local 169) serve as union trustees. John Maggiore (Royal Glass Company) and Steve Rossa (S&R Drywall, Inc.) serve as management trustees, with Maggiore also acting as secretary. Steve Eckstrom rounds out the board as a management trustee.
How does the Bay Area Painters & Tapers Trust source investment opportunities?
The trust focuses on buyout investments, with a notable emphasis on direct real estate holdings. These include the mixed-use property at its Dublin, CA headquarters and a commercial property in Alameda, CA. The trust also allocates to institutional funds like the McMorgan Principal Preservation Fund.
Is the Bay Area Painters & Tapers Trust structured as a single family office or a pension fund?
It is a Taft-Hartley multi-employer pension fund, established under the Labor Management Relations Act. Unlike a family office, it is jointly administered by union and management trustees and serves the retirement needs of IUPAT members and contributing contractors.
What asset classes does the Bay Area Painters & Tapers Trust invest in?
Public records indicate a portfolio concentrated in buyout strategies, direct real estate (office, mixed-use, and commercial properties), and fixed-income through the McMorgan Principal Preservation Fund. The trust does not appear to invest in hedge funds or venture capital.
Which geographical regions does the Bay Area Painters & Tapers Trust focus on?
The trust's known real estate investments are concentrated in Northern California, specifically Alameda County (Dublin and Alameda). Its broader portfolio may include U.S.-based buyout funds, though specific regional allocations beyond California are not publicly documented.
What is the relationship between the Bay Area Painters & Tapers Trust and IUPAT District Council 16?
District Council 16 of the International Union of Painters and Allied Trades is the primary union partner that the trust serves. John Sherak, a union trustee, directly represents the district council on the trust's board. The trust administers pension benefits for the union's members in Northern California.
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