Eastern Atlantic States Carpenters Pension Fund

Executive Fund Director Pete Tonia and Fund Director Joe Ooitz manage day-to-day investment operations. The Board of Trustees, chaired by Eastern Atlantic States Regional Council of Carpenters Executive Secretary-Treasurer William Sproule, holds ultimate fiduciary authority over asset allocation and manager selection. Investment staff present recommendations, but the Trustees vote on commitments.

The fund sources deals through its regional contractor network and developer relationships tied to the Eastern Atlantic States Regional Council of Carpenters. Because the council has direct visibility into active construction projects and sponsor behavior across its jurisdiction, the investment team can diligence opportunities before they reach a broad market process. This channel is reinforced by the national United Brotherhood of Carpenters network.

The portfolio includes both direct real estate ownership and commingled fund commitments. The ARA Core Property Fund LP is one named vehicle in the portfolio, structured as a core commercial real estate fund. Separate accounts labeled Core, Core Plus, and Value Add suggest a mix of direct co-investment alongside operating partners and dedicated managed portfolios.

The real estate sleeves span the risk spectrum from stabilized core properties to heavy value-add repositioning. The infrastructure allocation targets value-add projects rather than core infrastructure equity. The mortgages portfolio likely focuses on senior and mezzanine real estate credit, which provides current yield while keeping the fund's duration shorter than its equity positions.

The Regional Council is the parent labor organization that established and oversees the fund. EASRCC Executive Secretary-Treasurer William Sproule chairs the Board of Trustees, and council contributions from signatory contractors fund the plan. The fund is legally separate under ERISA but operationally integrated with the council's leadership and contractor network.