Pointers, Cleaners & Caulkers Pension Fund

Pointers, Cleaners & Caulkers Pension Fund

The Pointers, Cleaners & Caulkers Pension Fund operates as a single-trade multiemployer plan under the umbrella of Bricklayers and Allied Craftworkers (BAC) Local 1, serving New York City members who specialize in the final finishing, sealing, and waterproofing stages of masonry construction. It is affiliated with the broader International Pension Fund (IPF), which was established in 1972 by the International Union of Bricklayers and Allied Craftworkers and various contractor associations. BAC President Timothy Driscoll co-chairs the IPF, linking the local plan's governance directly to the union's top leadership. The fund allocates predominantly to union-built real estate vehicles, a common posture for building-trades pension plans that simultaneously seek risk-adjusted returns and employment for their members. Confirmed holdings include stakes in the AFL-CIO Building Investment Trust, which develops commercial property, and the Multi-Employer Property Trust, a large-scale diversified real estate fund. Additional allocations include the AFL-CIO Housing Investment Trust for residential assets, Intercontinental Real Estate Corporation for commercial exposure, and a dedicated Trowel Trades Large Cap Equity Index Fund for public-market liquidity. The geographic footprint concentrates on United States projects, often in metropolitan New York and other urban markets with high union density. Amber Brailer serves as the designated Fund Administrator, handling day-to-day operations and fiduciary reporting for the plan. While total assets are undisclosed, funds of this type typically pool contributions from several thousand active members and retirees, with assets scaled to cover life-contingent annuity payments. The fund sponsors no publicly known venture, private credit, or international direct-investment arms, staying tightly aligned with the defined-benefit pension model common among Taft-Hartley plans. It participates in no known philanthropic foundations or club investment networks, functioning instead as a pure retirement vehicle. Its defining structural trait is the tight alignment between asset allocation and union jurisdiction: the fund invests in real estate projects that are often built with BAC-represented labor. This closed-loop model — worker contributions funding projects that employ those same workers — creates a mutualized economic engine uncommon outside the building trades. Succession governance flows through the BAC's international leadership structure, with oversight shared between union trustees and contractor associations per standard Taft-Hartley bipartite board design.