# North Atlantic States Carpenters Pension Fund

North Atlantic States Carpenters Pension Fund is a Pension Fund based in Wilmington, United States.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Wilmington, United States
- **Region:** North America
- **Address:** 350 Fordham Road, Wilmington, MA 01887, United States
- **Founded:** 1962
- **Assets under management:** 4889 (Altss estimate)
- **Website:** carpentersfund.org
- **LinkedIn:** https://www.linkedin.com/company/north-atlantic-states-carpenters-benefit-funds

## Regulatory record

- **Reports private funds:** No

## About

The North Atlantic States Carpenters Pension Fund was established in 1962. It delivers pension, health, and annuity benefits to members of the United Brotherhood of Carpenters and Joiners of America in the Northeast. Nicola Favorito serves as Executive Director and Legal Counsel while Joseph Byrne chairs the board of trustees. The fund deploys capital across private equity, real estate, and venture strategies. Allocations include a 20.35 percent target to private equity and direct holdings in Cottonwood Real Estate Special Situations Strategy. Confirmed positions encompass Pioneer Square Ventures Fund II, Foundation Capital, Intercontinental Real Estate Corporation, and Health Catalyst Capital Fund II. Geographic exposure spans the United States with additional holdings in Europe through public equities such as Avio S.p.A. Assets total 4889 million USD. The fund maintains offices in Wilmington, Massachusetts, and Cheektowaga, New York. It participates in the International Reciprocal Agreement for Carpenters Pension Funds and the Massachusetts Coalition of Taft-Hartley Funds. February 2025: Sponsored the Retirement Awareness Phase II Financial Planning event. Service providers include Meketa Investment Group and Segal. The fund maintains a hybrid structure that combines direct real-estate joint ventures with fund commitments and public-market positions. Governance links directly to the North Atlantic States Regional Council of Carpenters, which supplies participant data and board representation.

## Sectors

- Real Estate
- Private Equity
- Venture Capital

## Offices

- Cheektowaga, NY, United States

## People

- Nicola Favorito — Executive Director and Legal Counsel
- Joseph Byrne — Chairman of the Board of Trustees

## Questions

### Who runs investment decisions at North Atlantic States Carpenters Pension Fund?

Nicola Favorito serves as Executive Director and Legal Counsel. Joseph Byrne chairs the Board of Trustees. Meketa Investment Group acts as investment consultant.

### How does the fund source proprietary deal flow?

The fund participates in the International Reciprocal Agreement for Carpenters Pension Funds and maintains relationships with Cottonwood Group for real estate opportunities.

### Does the fund participate in fund commitments or only direct deals?

The fund makes both fund commitments and direct investments. Examples include limited partner positions in Pioneer Square Ventures Fund II and joint venture interests in Cottonwood Real Estate Special Situations Strategy.

### What investment stages does the fund typically target?

The fund targets buyout, growth, early stage, and special situations strategies across private equity and real estate.

### Where does the underlying capital come from?

Contributions come from employers and union members covered by the United Brotherhood of Carpenters and Joiners of America in New England and New York State excluding New York City.

### What is the fund's known posture on co-investments alongside external GPs?

The fund acts as a limited partner in multiple vehicles and holds minority ownership stakes through Cottonwood Real Estate Special Situations Strategy.

## Related profiles

- [Brembo Ventures](https://altss.com/profile/brembo-ventures)
- [Gloucestershire County Council Pension Fund](https://altss.com/profile/gloucestershire-county-council-pension-fund)

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Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/north-atlantic-states-carpenters-pension-fund

Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology