Painting Industry Annuity Fund

Painting Industry Annuity Fund

The Painting Industry Annuity Fund operates as a defined-contribution pension vehicle for members of the International Union of Painters and Allied Trades (IUPAT) District Council 9, covering the New York metropolitan area. Founded by IUPAT and administered through a joint Board of Trustees, the fund is a product of collective bargaining between the union and signatory employer associations, including the Association of Master Painters and Decorators of New York, Inc. The board is co-chaired by union and employer representatives, creating a governance model where investment policy must satisfy both labor and management constituencies. Strategy flows through a dual structure: directly held real estate assets and commitments to external investment funds. The fund owns the District Council 9 headquarters at 45 West 14th Street in Manhattan and a training center and commercial property in Long Island City, Queens. Beyond real property, the portfolio includes allocations to hedge funds, private credit, and special situations — evidenced by a long-running claim originated from the Lehman Brothers Inc. insolvency proceedings. The geographic footprint concentrates on the New York metro region for direct holdings, while fund commitments extend nationally and internationally. There is no publicly available data on the fund's manager roster, but Taft-Hartley plans of this vintage commonly deploy through consultants like Meketa or NEPC and commit to middle-market private equity, real estate, and infrastructure managers. The fund's scale remains undisclosed, as is typical for many Taft-Hartley plans that do not voluntarily publish annual reports. Personnel and total professional headcount are not documented in public record. Adjacent vehicles include affiliated DC 9 welfare and insurance funds, which share trustee oversight and administrative infrastructure with the annuity plan. No recent operational event within the last 24 months has been verified. Structural differentiator: this fund belongs to the shrinking universe of jointly trusteed Taft-Hartley plans that retain direct ownership of union-related real estate — the DC 9 headquarters and training center — alongside diversified external manager allocations. That direct real asset base creates a tangible, mission-aligned portfolio layer that pure defined-benefit corporate plans cannot replicate.