Maritime Association - I.L.A. Pension Fund

Maritime Association - I.L.A. Pension Fund

The Maritime Association - I.L.A. Pension Fund is a jointly trusteed, multi-employer pension plan established under the Taft-Hartley Act to provide retirement benefits to members of the International Longshoremen’s Association (ILA). Its governance reflects a balanced structure: union trustees — led by ILA International President Harold J. Daggett — sit alongside management trustees like John Nardi of the Shipping Association of New York and New Jersey. Though headquartered in Houston, the fund's beneficiary base spans Atlantic and Gulf Coast ports, linking its financial obligations to the health of U.S. maritime logistics. The fund pursues a concentrated buyout strategy centered on commercial real estate. Its investment activity reflects a patient, liability-matching approach typical of union pension plans. The portfolio includes a direct holding in an industrial property at 11550 Fuqua Street in Houston, Texas — an asset class aligned with the economic geography of its membership. The fund also participates in commingled vehicles, such as the JP Morgan Special Situation Property Fund, indicating a willingness to partner with institutional managers for broader mixed-use exposure. No public records indicate allocations outside U.S. commercial real estate. Scale and team size are not publicly disclosed, consistent with the limited reporting requirements for non-publicly traded Taft-Hartley plans. The fund maintains no known website or professional social media presence. Its disclosed activity centers on Houston, with the Leeward Agency Project representing a separate local investment. The fund’s sole institutional affiliations are the two entities that sponsor its governance: the ILA and the Maritime Association of the Port of NY/NJ. Philanthropic or adjacent operating entities are not publicly documented. The fund’s structural differentiator lies in its governance rather than its investment strategy. As a Taft-Hartley labor-management plan, capital allocation decisions require joint approval from union and employer representatives — a framework that inherently prioritizes steady, long-duration assets over aggressive growth. This bilateral oversight means the fund's posture is shaped by collective bargaining dynamics alongside traditional fiduciary duties, making it a conservative allocator by design rather than by preference.