# Electrical Workers (IBEW) Local #139

Electrical Workers (IBEW) Local #139 is a Pension Fund based in Elmira, United States.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Elmira, United States
- **Region:** North America
- **Address:** Elmira, NY, United States
- **Assets under management:** $44M (Altss estimate)
- **Website:** ibew139.org

## Regulatory record

- **Reports private funds:** No

## About

IBEW Local 139 represents electrical workers in New York's Southern Tier, with its pension fund managed from Elmira. Business Manager Warren Roman, who also serves as Secretary-Treasurer of the Southern Tier Building & Construction Trades Council, oversees the fund alongside President Josh Fitzwater and Fund Manager Kristine VanFleet. The Local operates ancillary welfare and educational trusts, creating a small constellation of related asset pools servicing its membership. The pension fund's investment posture is defined by a heavy concentration in secondaries, a strategy that typically allows smaller limited partners to acquire seasoned private fund stakes on a discount or shorter timeline. No direct venture or co-investment positions are publicly attributed to the fund. The Local's alternative asset exposure appears almost singularly routed through secondary market purchases, complemented by direct real estate assets including the union hall at 415 W. Second Street and a dedicated training center on College Avenue. With an estimated $44M in assets, Local 139 is among the smaller union pension funds operating in upstate New York. The fund maintains active community ties through the Chemung County Chamber of Commerce and United Way of the Southern Tier, where Roman holds a board seat. Membership development representative Nick Ahearn also sits on the Chamber's board, reinforcing the Local's entanglement with regional economic development organizations. The fund's structural posture — a single-strategy secondary buyer at sub-institutional scale — sets it apart from peer union plans that typically hold broad, consultant-advised allocations across public equities and core fixed income.

## Sectors

- Secondaries & Special Situations
- Real Estate

## People

- Warren Roman — Business Manager
- Josh Fitzwater — President
- Kristine VanFleet — Fund Manager
- Nick Ahearn — Membership Development Representative

## Questions

### How does IBEW Local 139 invest its pension assets?

The fund allocates almost exclusively to private equity secondaries, purchasing existing LP interests from other investors rather than committing to primary fundraises. This strategy is supplemented by direct real estate holdings, including the union hall at 415 W. Second Street and a training center on College Avenue in Elmira.

### What is the relationship between IBEW Local 139's pension fund and its other trusts?

Local 139 maintains separate welfare and educational training trusts alongside the pension fund, each with distinct fiduciary purposes. The welfare fund covers health and benefit obligations, while the educational trust supports apprentice and journeyman training programs at the College Avenue facility.

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Last updated: 2026-08-11T02:43:31.692Z

Canonical page: https://altss.com/profile/electrical-workers-ibew-local-139

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