IUOE 39

IUOE 39

IUOE 39 was established in 1955 as a multiemployer defined-benefit plan. It operates as a regional affiliate of the International Union of Operating Engineers and receives contributions from employers including ABM Industries, Jones Lang LaSalle, and California State University. The fund allocates 1.81 percent of assets to private equity and maintains an active holding in Madison Core Property Fund LLC, a core real estate vehicle focused on multi-family properties in North America. It also invests in equity mutual funds and REITs as part of its total return portfolio. Geographic exposure centers on the United States with emphasis on Northern California. The plan participates in both direct holdings and fund commitments. Assets total $1.764 billion. The fund employs Graystone Consulting as investment advisor and US Bank as custodian. In September 2024 it attended Labor Fest in Reno, Nevada. It maintains the Local 39 Educational Scholarship Program, which has distributed over $2.5 million since 2005. IUOE 39 functions under a union-governed structure with oversight from elected trustees and third-party administrators rather than a single-family principal.