Laborers Pension Trust Fund for Northern California

Laborers Pension Trust Fund for Northern California

The Fund was established in 1963 through a collective bargaining trust agreement between the Associated General Contractors of California and the Northern California District Council of Laborers. Chairman Oscar De La Torre represents the union side, while Co-Chairman Bill Koponen of Syblon Reid serves as an employer trustee. The board is characterized by this balanced governance structure, a defining feature of multi-employer pension plans. The Fund's deployment strategy is concentrated in direct real estate and private credit, evidenced by a portfolio of owned commercial and industrial properties. Known holdings span the Bay Area and Northern California, including One Bay Plaza in Burlingame, the Franklin 1714 Corp building in Oakland, the Townsend 130 Corp property in San Francisco, the Tracy Capital Park Corp industrial asset in Tracy, and the Larkspur Landing 100 Corp commercial site. A separate vehicle, Ponos Lending LLC, extends the strategy into direct private credit. The Fund is a member of the National Coordinating Committee for Multiemployer Plans, the primary advocacy body for Taft-Hartley funds, and the International Foundation of Employee Benefit Plans. In its operating history, the Fund has distributed over $2.9 billion in benefits to a base of approximately 10,400 retirees and beneficiaries. The Fund's structural differentiator is its governance architecture as a multi-employer Taft-Hartley plan. Investment and benefit decisions are not made by a single family or corporate sponsor, but by a joint board of union and employer trustees. This mandate aligns the Fund's real estate and credit investments with the long-duration liabilities of a construction workforce retirement plan.