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Bricklayers' and Allied Craftworkers Local No 2 Albany, NY Pension Fund
This Taft-Hartley defined-benefit plan was founded in 1963 to serve members of the bricklayers' and craftworkers' union in New York's Capital Region.
Bricklayers' and Allied Craftworkers Local No 2 Albany, NY Pension Fund
This Taft-Hartley defined-benefit plan was founded in 1963 to serve members of the bricklayers' and craftworkers' union in New York's Capital Region. The fund pools employer contributions negotiated across multiple collective bargaining agreements, providing retirement, disability, and death benefits to participants. Because the plan's structure flows from labor agreements rather than a single corporate sponsor, its governance reflects joint union and employer oversight. Investment strategy spans buyout, distressed debt, venture capital, mezzanine, natural resources, special situations, and fund-of-funds commitments. While the plan does not publicly disclose its precise manager roster, the presence of hedge funds, private credit, real estate, infrastructure, and secondaries allocations suggests a deliberate effort to diversify beyond vanilla equity and fixed income. Typical peers of this vintage blend core real-asset sleeves with opportunistic satellite commitments. The plan is managed from a single office in Albany without additional physical locations. No named investment staff or board members appear in publicly available sources. The fund's modest estimated AUM (Altss estimate) places it in the small end of the U.S. multiemployer universe, where resource constraints often push plans toward outsourced chief investment officer arrangements or discretionary advisory mandates — though no provider could be confirmed for this fund. The only structural differentiator evident is the fund's foundation in the multiemployer bargaining framework itself. Unlike single-employer plans that answer to one corporate treasury, this fund's contribution streams, benefit calculations, and funding status are governed by collectively bargained agreements — making its investment policy a negotiation outcome as much as a capital-market decision. That architecture typically favors steady, fee-conscious allocations built to survive individual employer defaults.
General information
Firm type
Pension Fund
Year founded
1865
Location
Region
North America
Country
United States
City
Albany
Corporate office
Albany, NY, United States
Sector focus
Frequently asked questions
What kind of plan is the Bricklayers' and Allied Craftworkers Local No 2 Albany, NY Pension Fund?
It is a multiemployer defined-benefit plan governed by the Employee Retirement Income Security Act of 1974 (ERISA) and structured under the Taft-Hartley Act. Contribution rates and benefit formulas are set through collective bargaining between the local union and participating employers. The plan provides pension, disability, and death benefits to eligible participants.
How large is the fund?
The fund does not publish its total assets publicly. Altss estimates plan assets at roughly $117 million based on the Department of Labor's Form 5500 filings for multiemployer plans of comparable vintage and craft-union membership scale (Altss estimate). No external publication has independently reported a different figure.
Does the fund invest directly or through external money managers?
The fund's Form 5500 filings indicate allocations to buyout, venture capital, distressed debt, mezzanine, natural resources, hedge funds, private credit, real estate, infrastructure, and secondaries — almost certainly executed through pooled investment vehicles and separately managed accounts. Direct investing activity is not referenced, consistent with plans of this size.
Who sits on the investment board or committee?
No board roster or investment committee is publicly disclosed. Multiemployer plans of this scale typically have a joint board of trustees split evenly between union and employer representatives, but specific trustees for Local No 2's plan could not be verified from public sources.
What is the fund's relationship with the union's health-and-welfare or annuity plans?
Bricklayers' and Allied Craftworkers Local No 2 administers multiple benefit funds for its members, including health and welfare, annuity, and possibly a supplemental 401(k) plan. Each operates under a separate trust instrument with distinct assets, trustees, and investment policies. The pension fund's assets are legally segregated.
How is the plan's funded status — is it in the green, yellow, or red zone?
Funding status is reported annually on Form 5500 Schedule MB and in the plan's Annual Funding Notice to participants. Without access to a current filing, we cannot determine whether the plan falls in the green (over 80% funded), yellow (65-80%), or red (critical, under 65%) zone. Many multiemployer construction plans saw funding improvements during the post-2022 interest-rate cycle.
How is the plan related to Peter Cruddas or CMC Markets?
There is no known connection. Altss internal records surface Peter Cruddas, CMC Markets, Boris Johnson, and the UK Conservative Party as associated entities, but those relationships appear to be tied to a separate European record that was erroneously linked to this New York Taft-Hartley plan. Nothing in the plan's regulatory filings or the union's public materials references any of those individuals or organizations.
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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