Eastern Atlantic States Carpenters Benefit Funds

Eastern Atlantic States Carpenters Benefit Funds

The Eastern Atlantic States Carpenters Benefit Funds was established in 1962 to serve members of the Eastern Atlantic States Regional Council of Carpenters. It operates as a multiemployer pension vehicle providing defined benefits funded by employer contributions tied to union labor agreements. Allocations include private equity at roughly 12 percent of assets, real estate portfolios valued near $290M across core, core-plus, and value-add strategies, and mortgage holdings of $55M. The fund also maintains positions in infrastructure and private credit. Geographic exposure centers on the United States with offices in Philadelphia and Edison, New Jersey. A new campus at the Philadelphia Navy Yard is under development for the benefit funds and Carpenter Contractor Trust. The fund participates in the Delaware Valley Health Care Coalition and holds membership in the International Foundation of Employee Benefit Plans. It sponsors the Eastern Atlantic States Regional Council of Carpenters Scholarship Fund, which has awarded over 400 scholarships totaling more than $2.5M since 1996. Service providers include Cohen Milstein Sellers & Toll PLLC for legal counsel and Janney Montgomery Scott LLC as investment advisor.