Construction & General Laborers' Local #190

Construction & General Laborers' Local #190

Construction & General Laborers' Local #190 is the Glenmont, New York-based Taft-Hartley pension fund serving members of the Laborers' International Union of North America (LIUNA) in the Capital Region and Mohawk Valley. Led by Business Manager and Secretary Treasurer Anthony Fresina, the plan operates from a union hall on Wemple Road and maintains a secondary administrative office in Whitesboro. The fund draws contributions from signatory contractors coordinated through the Eastern Contractors Association and is governed jointly by union and management trustees under federal pension law. The fund's investment strategy is notable for its concentrated secondary-market posture. Rather than spreading across primaries, directs, and co-investments like many peer Taft-Hartley plans, Local 190 allocates the bulk of its capital to acquiring limited-partnership interests in private equity, infrastructure, and real asset funds from sellers seeking liquidity. This approach can provide accelerated capital deployment, shorter durations to cash flow, and the pricing discounts typical of secondary transactions. The plan's geographic exposure remains anchored in the US Northeast but extends to the underlying fund portfolios it acquires, which may include assets across North America and Europe. Specific fund commitments and secondary purchases are not publicly detailed, consistent with the typically opaque operations of smaller union pension plans. The plan manages a total pool estimated at $130 million and maintains adjacent trust structures including a Welfare Fund that provides health and supplemental benefits to members. The scholarship fund operated under the Local 190 banner supports member families, reflecting the ancillary benefit architecture common to LIUNA locals. In 2025, the fund continued to source opportunistic secondary stakes, maintaining its strategy amid a broader secondary market that has seen increasing volumes and specialized buyers. What distinguishes Local 190 structurally from other Taft-Hartley plans is its wholesale commitment to a single strategy — secondaries — without diversifying into direct lending, traditional manager selection, or in-house direct deals. Joint trusteeship with signatory contractors through the Eastern Contractors Association means investment decisions balance labor and management interests, a governance architecture that tends to favor conservative, liquidity-aware mandates. The concentration in secondaries suggests a deliberate trade-off: fewer GP relationships in exchange for pricing advantages and lower blind-pool risk, a posture that is unusual for a plan of this asset size.