# Illinois Tool Works Inc.

Illinois Tool Works Inc. is a Pension Fund based in Glenview, United States.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Glenview, United States
- **Region:** North America
- **Address:** 155 Harlem Avenue, Glenview, IL 60025, United States
- **Founded:** 1912
- **Assets under management:** 1.33B (Altss estimate)
- **Website:** www.itw.com
- **LinkedIn:** https://www.linkedin.com/company/illinoistoolworks

## Regulatory record

- **Reports private funds:** No

## About

Illinois Tool Works established its pension account in 1950 to support defined-benefit obligations for employees. The Smith family founded the company and retains significant ownership through Briar Hall Management LLC. The account allocates 0.6 percent to private equity with the balance held in collective trust funds focused on U.S. and foreign large- and mid-cap equities. Geographic reach follows the parent company's 88 divisions across 49 countries. Confirmed holdings include stakes in Hobart, Miller Electric, and Paslode. The pension maintains 1.33 billion dollars in assets. No additional offices exist beyond the Glenview headquarters. Philanthropic vehicles include the Illinois Tool Works Foundation, which distributed roughly 20 million dollars in 2023. Governance ties the pension directly to the public company's board and CFO function, creating a single reporting line absent in standalone family offices.

## Sectors

- Diversified
- Healthcare
- Information Technology

## People

- Christopher A. O'Herlihy — President & CEO
- E. Scott Santi — Non-Executive Chairman
- Michael M. Larsen — CFO

## Questions

### Who runs investment decisions at the ITW Defined Benefit Plans' Investment Account?

Christopher A. O'Herlihy serves as President and CEO of Illinois Tool Works with Michael M. Larsen as CFO. Both hold direct oversight of the pension account per the company's governance structure.

### Does the ITW pension participate in fund commitments or only direct deals?

The account invests primarily through collective trust funds. Private equity exposure totals 0.6 percent and occurs via fund commitments rather than direct co-investments.

### What investment stages does the pension typically target?

No stage-specific mandate exists. The small private equity allocation sits inside broader collective trust vehicles without disclosed stage restrictions.

### How is the pension related to the parent company?

The ITW Defined Benefit Plans' Investment Account functions as an internal entity of Illinois Tool Works Inc. It reports through the CFO and board.

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Last updated: 2026-07-08T21:04:00.123Z

Canonical page: https://altss.com/profile/illinois-tool-works-inc

Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology