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New York Shipping Association-International Longshoremen's Association (NYSA-ILA)
The NYSA-ILA Employee Benefit Funds were established through collective bargaining between the New York Shipping Association and the International...
New York Shipping Association-International Longshoremen's Association (NYSA-ILA)
The NYSA-ILA Employee Benefit Funds were established through collective bargaining between the New York Shipping Association and the International Longshoremen's Association, combining management and labor trustees to administer pensions, welfare, vacation/holiday, and medical benefits for longshore workers. The funds operate under the Taft-Hartley Act, a legal framework that requires equal governance representation from both sides. The investment strategy concentrates on buyout funds, private credit placements, and real estate held via direct property and fund commitments. The portfolio includes office and medical properties in northern New Jersey and New York, with the NYSA-ILA Medical Center of Newark at 131 Clifford Street serving as a vertically integrated asset. The funds have deployed capital across private equity buyout vehicles, though specific deal-level disclosures are not public. The funds manage multiple benefit pools — Retirement Trust, Welfare Fund, and Vacation and Holiday Fund — each housed at 10 Exchange Place in Jersey City. Day-to-day administration is handled internally, with asset allocation and manager selection directed by the joint trustees. No AUM, total deployment, or team headcount has been disclosed. The funds own medical and clinical assets that directly serve plan participants, a model distinct among Taft-Hartley plans. A key structural differentiator is the joint trust governance: equal labor and management representation ensures alignment between the ILA membership and terminal operators. This architecture limits single-party discretion and embeds labor stability into long-term capital deployment decisions, creating a governance tension uncommon in corporate or public pension funds.
General information
Firm type
Pension Fund
Year founded
—
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Jersey City
Corporate office
Jersey City, NJ, United States
Principals
Harold J. Daggett
Labor Trustee of the NYSA-ILA funds
John Nardi
Management Trustee of the NYSA-ILA funds
Sector focus
Frequently asked questions
Who makes investment decisions at NYSA-ILA?
Investment decisions are made by a joint board of trustees representing labor (ILA) and management (SANYNJ). Key trustees include Harold J. Daggett (ILA President) and John Nardi (SANYNJ President). The structure is mandated by the Taft-Hartley Act, requiring equal representation from both parties.
How does NYSA-ILA source proprietary deal flow?
The funds primarily invest through external fund commitments — buyout funds and private credit vehicles — rather than sourcing direct deals. The joint trust structure encourages placement agents and GPs to pitch the board collectively. Direct real estate is sourced through properties serving plan participants, such as the medical center.
Is NYSA-ILA structured as a single-family office?
No. NYSA-ILA is a Taft-Hartley multi-employer pension and welfare fund — a union benefit trust, not a family office. It shares the jointly-trusteed structure with other large union plans like the Operating Engineers or Teamsters funds.
Does NYSA-ILA participate in fund commitments or only direct investments?
The funds primarily commit to external buyout funds and private credit vehicles, based on the strategy tags. They also hold direct real estate assets, including medical office properties and clinic infrastructure. Co-investment activity is not publicly documented.
What investment stages does NYSA-ILA typically target?
NYSA-ILA targeted buyout funds (leveraged buyouts of mature companies) and private credit — likely direct lending or mezzanine. The fund profile suggests a focus on US middle-market and large-cap LBO funds, though specific vintage or size preferences are not disclosed.
Which sectors does NYSA-ILA explicitly avoid?
No explicit avoidance list is publicly available. As a union pension fund, it likely avoids sectors with labor-practice conflicts, but the investment policy statement is not public.
Does NYSA-ILA maintain philanthropic structures?
The funds operate a charitable model through the NYSA-ILA Medical Center of Newark, providing healthcare services to plan participants. This is an operational asset, not a separate foundation. There is no disclosed grant-making foundation under the NYSA-ILA name.
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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