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Eversource Retirees Benefit Trust
Eversource Retirees Benefit Trust was established in 1995 to administer retiree welfare payments. It functions as a 501(c)(9) entity sponsored by Eversource...
Eversource Retirees Benefit Trust
Eversource Retirees Benefit Trust was established in 1995 to administer retiree welfare payments. It functions as a 501(c)(9) entity sponsored by Eversource Energy Service Company and maintains an affiliated relationship with Eversource Retirement Plan Master Trust. The trust deploys capital across public equities, fixed income, and alternatives. Confirmed holdings include a position in Prysmian S.p.A. valued at approximately $2 million as of April 2024 and shares in Mowi ASA valued at $700,000 as of June 2023. It also holds an interest in Actis Energy 5 A LP. Geographic exposure spans North America and Europe through listed securities and the global energy fund. Assets total $841 million. BNY Mellon acts as trustee, custodian, and administrator with Shelly Paletta as primary contact. Baillie Gifford Overseas Limited and American Cohen & Company, Ltd. provide investment management and audit services. April 2024: Attended Prysmian S.p.A. Annual General Meeting in Milan, Italy. The trust's structure ties investment decisions directly to the sponsoring employer's retiree obligations rather than external LP commitments or family succession planning.
General information
Firm type
Endowment / Foundation
Year founded
1995
Location
Region
North America
Country
United States
City
Pittsburgh
Corporate office
PO Box 535007, Pittsburgh, PA, United States
Principals
Shelly Paletta
Trustee
Sector focus
Frequently asked questions
Who runs investment decisions at Eversource Retirees Benefit Trust?
Shelly Paletta, Vice President at BNY Mellon, serves as trustee. BNY Mellon handles custody and administration while external managers including Baillie Gifford Overseas Limited execute portfolio decisions.
Does Eversource Retirees Benefit Trust participate in fund commitments or only direct deals?
The trust holds both fund interests such as Actis Energy 5 A LP and listed equity positions. It does not appear to run a dedicated direct deal program.
Where does the underlying wealth come from?
The trust is sponsored by Eversource Energy Service Company to fund welfare benefits for its retirees and operates as a 501(c)(9) Voluntary Employees' Beneficiary Association.
What investment stages does Eversource Retirees Benefit Trust typically target?
The portfolio mixes highly liquid public equities and ETFs with illiquid private equity and real estate holdings. No stage-specific mandate such as venture or growth equity is disclosed.
How is Eversource Retirees Benefit Trust related to Eversource Energy Service Company?
Eversource Energy Service Company acts as the sponsoring employer. The trust maintains a separate but affiliated relationship with Eversource Retirement Plan Master Trust under the same corporate umbrella.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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