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Carpenters Combined Funds
Carpenters Combined Funds was established in 1964 to manage benefits for members of the Greater Pennsylvania Carpenters union. William C. Sproule serves as...
Carpenters Combined Funds
Carpenters Combined Funds was established in 1964 to manage benefits for members of the Greater Pennsylvania Carpenters union. William C. Sproule serves as chairman and plan administrator alongside co-chair David D. Daquelente and executive director James R. Klein. The fund allocates across private equity, real estate, and public equities. Holdings include commitments to Townsend Real Estate Alpha Fund III and American Realty Advisors Core Property Fund. Public positions encompass First Solar, Philip Morris International, and Vanguard Total Stock Market ETF. The geographic focus centers on the United States with additional exposure through global real estate vehicles. The organization maintains relationships with service providers including Meketa Investment Group, Callan, and Henry Rossi & Co. It participates in industry events such as the 2024 Public School Fund Investment Board Meeting. Additional offices are not disclosed. Governance links the fund directly to the Eastern Atlantic States Regional Council of Carpenters as plan sponsor, creating a structure where investment oversight sits with union leadership rather than external managers.
General information
Firm type
Pension Fund
Year founded
1964
Location
Region
North America
Country
United States
City
Pittsburgh
Corporate office
650 Ridge Road Suite 300, Pittsburgh, PA 15205-9503, United States
Principals
William C. Sproule
Chairman of the Board of Trustees and Plan Administrator
James R. Klein
Executive Director and Plan Administrator
David D. Daquelente
Co-Chairman and Plan Sponsor
Sector focus
Frequently asked questions
Who runs investment decisions at Carpenters Combined Funds?
William C. Sproule serves as chairman of the board of trustees and plan administrator. James R. Klein acts as executive director and plan administrator. David D. Daquelente serves as co-chairman.
Does Carpenters Combined Funds participate in fund commitments or only direct deals?
The fund holds limited partner interests in real estate vehicles including Townsend Real Estate Alpha Fund III and American Realty Advisors Core Property Fund.
Where does the underlying wealth come from?
The plan receives contributions tied to the Greater Pennsylvania Carpenters union and its affiliated regional council.
How is Carpenters Combined Funds related to the Eastern Atlantic States Regional Council of Carpenters?
The regional council acts as plan sponsor and maintains a direct business partner relationship with the fund.
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