International Union of Painters & Allied Trades Pension Fund

Decisions fall under the authority of a board of trustees composed equally of union representatives and employer-side trustees. General President Jimmy Williams Jr. serves as Union Co-Chairman, and Jerry Haber of the Finishing Contractors Association serves as Employer Co-Chairman. Every allocation must satisfy the fiduciary requirements of the Employee Retirement Income Security Act and the jointly-trusteed governance model derived from collective-bargaining agreements.

The fund uses both approaches. It commits capital through AFL-CIO-sponsored investment vehicles, participates in fund-of-funds structures, and makes direct co-investments alongside approved external managers. The fund's investment policy statement extends across venture capital, buyouts, mezzanine, distressed debt, natural resources, and real estate equity, with the multi-manager co-investment sleeve receiving the most attention from trustees.

IUPAT is a member union of the AFL-CIO labor federation and is an investor in AFL-CIO-affiliated investment programs. Leadership holds seats on the AFL-CIO Executive Council, and the fund joined the Transportation Trades Department in January 2022, aligning at least part of the deployment pipeline with infrastructure-policy initiatives championed by the Building Trades.

Yes. The fund's directly held real assets include the Embassy Suites by Hilton Washington D.C. Convention Center, the IUPAT headquarters campus on Parkway Drive in Hanover, Maryland, a national training facility on an adjacent parcel, district-council office buildings in New York City and Livermore, California, and undeveloped land holdings in Hanover. A separate account designated W1 holds additional commercial property in the United States.

The fund's strategy statement permits allocations from seed-stage venture through late-stage growth, expansion capital, buyout, mezzanine, special situations, turnaround, and distressed debt. However, the bulk of the venture exposure is concentrated in late-stage and growth-stage commitments, consistent with a mature defined-benefit plan's requirement for lower-beta early-stage exposure.

The IUPAT Industry Pension Fund is a multi-employer defined-benefit plan jointly sponsored by IUPAT and the Finishing Contractors Association. Employers bound by IUPAT collective-bargaining agreements contribute to the same pool, making it a single plan covering workers across multiple district councils in the United States and Canada.

Three affiliated entities operate in parallel: the Finishing Trades Institute runs registered apprenticeship programs for the finishing trades; the Painters and Allied Trades for Children's Hope (PATCH) Foundation supports health-related philanthropy; and the Labor-Management Cooperation Initiative (LMCI) is jointly administered with the Finishing Contractors Association to manage training, safety, and workforce development programs.