LIUNA National (Industrial) Pension Fund

A joint board of trustees — split between LIUNA union representatives and contributing employers — governs the fund. Brent Booker, LIUNA's General President, serves as a trustee and represents the union's interests. Day-to-day fund administration falls to Thomas Holsman as Plan Administrator and Adam M. Downs as Fund Administrator. The trustee structure requires consensus for major allocation changes and manager selections.

The fund targets diversified allocations across real estate, infrastructure, private credit, and private equity, with a stated tilt toward sectors that deploy union labor. Real estate investments favor commercial properties and development projects using LIUNA members, while infrastructure commitments concentrate on transportation and energy. The board's investment policy emphasizes durable, income-producing assets that align with the beneficiary base's long-term retirement obligations.

Yes. SEC filings show the fund regularly invests alongside the LIUNA Staff & Affiliates Pension Fund and the National Elevator Industry Health Benefit Plan. These co-investments create a pooled purchasing structure that gives the affiliated funds access to larger institutional commitments than any single plan could achieve independently.

Capital derives from collectively bargained hourly pension contributions made by signatory construction contractors on behalf of LIUNA members. These contributions are negotiated in multi-year labor agreements covering building, heavy and highway, and environmental remediation contractors across the United States and Canada.

While the fund does not publicly disclose its GP-fund versus direct-deal split, its 13F and partnership filings suggest a preference for direct co-investments and limited partnership commitments to union-aligned real estate and infrastructure vehicles. Public record does not confirm dedicated allocations to fund-of-funds vehicles.

The fund does not publish an investment policy externally. As a Taft-Hartley plan, its governing documents and investment policy statements are internal board materials. External GPs typically connect through the plan's investment consultant, whose identity is not publicly disclosed, or through union-affiliated intermediaries.

No. The National (Industrial) Pension Fund covers rank-and-file laborers, while the Staff & Affiliates Pension Fund covers union staff and administrative personnel. They are separate legal entities with distinct participant pools, though they share overlapping trustees and frequently co-invest. Both operate from Washington, DC.