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Hawaii Carpenters Financial Security Fund
The Hawaii Carpenters Financial Security Fund was established in 1988 to manage retirement assets for members of the Hawaii Regional Council of Carpenters.
Hawaii Carpenters Financial Security Fund
The Hawaii Carpenters Financial Security Fund was established in 1988 to manage retirement assets for members of the Hawaii Regional Council of Carpenters. Ronald Taketa serves as co-chair alongside contractor trustees appointed by employer associations. The plan allocates 0.2 percent of assets to private equity via fund-of-funds mandates. Investment managers include Bernhard Capital Partners since 2021 and BlackSand Capital since 2018. Geographic exposure centers on North America with primary activity in Hawaii. The fund maintains one related vehicle, the Hawaii Carpenters Apprenticeship Training Trust Fund founded in 1971. It works with five service providers including McCorriston Miller Mukai MacKinnon LLP for legal counsel. Governance follows a ten-trustee structure split evenly between union and employer appointees, with the Hawaii Regional Council of Carpenters naming five voting members.
General information
Firm type
Pension Fund
Year founded
1988
Location
Region
North America
Country
United States
City
Honolulu
Corporate office
200 North Vineyard Boulevard Suite 100, Honolulu, HI 96817, United States
Principals
Ronald Taketa
Co-Chair, Board of Trustees
Conrad Murashige
Trustee
Charles Kaneshiro
Trustee
Sector focus
Frequently asked questions
Who runs investment decisions at Hawaii Carpenters Financial Security Fund?
The board of trustees, co-chaired by Ronald Taketa, oversees the plan. External managers Bernhard Capital Partners and BlackSand Capital execute the private equity allocation.
Does Hawaii Carpenters Financial Security Fund participate in fund commitments or only direct deals?
The plan uses fund-of-funds vehicles for its private equity exposure.
Where does the underlying wealth come from?
Assets derive from employer and employee contributions to the multiemployer defined-benefit plan.
How is Hawaii Carpenters Financial Security Fund related to Hawaii Regional Council of Carpenters?
The council appoints five of the ten voting trustees and represents the union members covered by the plan.
Does Hawaii Carpenters Financial Security Fund maintain philanthropic structures?
It is linked to the Hawaii Carpenters Apprenticeship Training Trust Fund, which supports vocational training established in 1971.
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