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Maritime Association - I.L.A. Pension Fund
The Maritime Association - I.L.A. Pension Fund is a defined-benefit multiemployer pension fund established under the Taft-Hartley Act, jointly...
Maritime Association - I.L.A. Pension Fund
The Maritime Association - I.L.A. Pension Fund is a defined-benefit multiemployer pension fund established under the Taft-Hartley Act, jointly administered by the International Longshoremen's Association (ILA) and the Maritime Association of the Port of New York and New Jersey. Harold J. Daggett, International President of the ILA since 2011, sits as a trustee alongside John Nardi, who represents the employer-side shipping association. Investment strategy is concentrated in private equity buyouts and real estate. The fund's portfolio includes a direct commercial property at 11550 Fuqua Street in Houston and a stake in JP Morgan's Special Situation Property Fund. No public disclosures detail the fund's total AUM or allocation percentages; its investment posture reflects an institutional defined-benefit mandate focused on long-term capital growth through illiquid asset classes. Team structure mirrors typical Taft-Hartley governance, with an equal number of union and employer trustees overseeing investment decisions. The fund maintains a Houston headquarters but covers workers in the Port of New York and New Jersey region. No recent operational events or leadership changes are publicly recorded for the last 24 months. Unlike corporate pension funds, this plan's joint labor-management governance creates a structural check on investment decisions — with fiduciary duties to both union members and contributing employers. This dual-allegiance framework influences everything from asset allocation pacing to manager selection criteria.
General information
Firm type
Pension Fund
Year founded
—
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Houston
Corporate office
Houston, TX, United States
Principals
Harold J. Daggett
Trustee
John Nardi
Management Trustee
Sector focus
Frequently asked questions
Who makes investment decisions at the Maritime Association - I.L.A. Pension Fund?
Investment decisions are made by a board of trustees with equal representation from the International Longshoremen's Association (ILA) — including union president Harold J. Daggett — and employer-side representatives such as management trustee John Nardi from the Shipping Association of New York and New Jersey (per public record). The fund does not publicly identify a dedicated CIO or external investment advisor.
What asset classes does the fund invest in?
The fund allocates primarily to private equity buyouts and real estate, based on disclosed holdings. Known positions include a direct commercial real estate asset at 11550 Fuqua Street in Houston and a stake in JP Morgan's Special Situation Property Fund (per public record). The fund has not publicly disclosed fixed-income or public equity allocations.
How is the fund structured differently from a corporate pension plan?
As a Taft-Hartley multiemployer plan, the fund is jointly administered by a labor union (ILA) and an employer association (Maritime Association of the Port of NY/NJ). This governance structure, mandated by the 1947 Taft-Hartley Act, requires equal fiduciary representation from both sides — balancing the interests of union workers and contributing employers in all investment decisions.
What is the fund's relationship with the International Longshoremen's Association?
The ILA co-founded the pension fund as the labor-side sponsor. The fund covers longshore workers represented by the ILA in the Port of New York and New Jersey region. Union president Harold J. Daggett serves as a trustee, providing direct labor representation in the fund's governance.
Where does the fund's mandate originate?
The fund was established under the Taft-Hartley Act of 1947, which governs jointly administered trust funds between labor unions and employer associations. It provides defined-benefit pension coverage for eligible longshore and maritime workers in the New York-New Jersey port area, funded by employer contributions negotiated in collective bargaining agreements.
Does the fund invest in hedge funds or public equities?
Public records do not show direct exposure to hedge funds or public equities. The fund's known portfolio — a Houston commercial property and a JP Morgan real estate fund — suggests a focus on private market illiquid assets. Without full disclosure, the complete asset allocation remains opaque.
Is the fund open to external investment?
No. As a Taft-Hartley multiemployer pension fund, it is a closed pool of assets for participating ILA members and their employers. It does not accept capital from outside investors, unlike a union-advised fund or pooled vehicle.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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