Boilermakers National Funds

Boilermakers National Funds

The Boilermaker-Blacksmith National Pension Trust was established in 1960 by the International Brotherhood of Boilermakers. It supplies defined benefits to eligible union members across construction and industrial sectors. Administrative services are handled through Wilson-McShane Corporation. The trust deploys capital through a fund-of-funds approach alongside direct holdings. Allocations include 1.66 percent to private equity, 8.7 percent to real estate, and 20.9 percent to alternatives that encompass hedge funds valued at $637 million. Confirmed exposures cover American Strategic Value Realty Fund, AREA Property Partners Value Enhancement Fund, and Global Risk Balanced Commingled Funds. Geographic reach centers on the United States with additional holdings in global commodities strategies. The fund maintains relationships with external managers including Western Asset Management, Wellington Management, and Parametric Portfolio Associates. It participates in the International Foundation of Employee Benefit Plans and maintains the Boilermakers' Disaster Relief Fund for member assistance. No operational events from the last 24 months appear in available records. Governance ties the trust directly to the International Brotherhood of Boilermakers through shared trustees and benefit delivery, creating a closed loop between union membership and asset management that differs from standalone public pensions.