# Retirement Plan for Salaried Employees of the Hillman Company

Retirement Plan for Salaried Employees of the Hillman Company is a Pension Fund based in Pittsburgh, United States.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Pittsburgh, United States
- **Region:** North America
- **Address:** Pittsburgh, PA, United States
- **Founded:** 1961
- **Assets under management:** Undisclosed
- **Website:** hillmangroup.com
- **LinkedIn:** https://www.linkedin.com/company/the-hillman-group

## Regulatory record

- **Reports private funds:** No

## About

The Retirement Plan for Salaried Employees of the Hillman Company is the pension vehicle tied to one of America's most durable private investment dynasties. Henry L. Hillman, who died in 2017 at age 98, spent seven decades building a portfolio that anticipated the modern multi-asset family office by roughly half a century. His holding entity, The Hillman Company, operates from the same Pittsburgh headquarters the family has occupied for generations, with Kevin Lavelle as CEO and Joseph Manzinger as President running a platform that spans direct private equity, venture capital, and commercial real estate. The plan's investment posture mirrors The Hillman Company's permanent-capital approach — patient, concentrated, and structurally indifferent between fund commitments and direct co-investment. The Hillman name appears on cap tables alongside firms like Smith Point Capital in technology bets including Gather AI and ZEDEDA. The family's venture lineage is unusually deep: Hillman was an original limited partner in Kohlberg Kravis Roberts's debut 1978 fund and stayed active in seeding emerging managers across multiple cycles. Real estate holdings include a significant commercial portfolio concentrated in the United States. Henry Hillman's legacy runs beyond investment returns. He served as President and Chair of the Allegheny Conference on Community Development and was inducted into the Private Equity Hall of Fame. The philanthropic architecture — Henry L. Hillman Foundation and Hillman Family Foundations, overseen by David K. Roger — operates with formal separation from the pension plan, though both trace to the same underlying industrial fortune. The Hillman Hall of Minerals and Gems at the Carnegie Museum and the Frick Art Museum collection reflect a family tradition of civic cultural patronage. The plan's structural differentiator is its position inside a permanent family holding company rather than a standalone institutional asset owner. Unlike most corporate pension funds that outsource to consultants and fund-of-funds platforms, this vehicle draws on the Hillman Company's direct-sourcing relationships and decades of manager-access privilege. The governance boundary between the pension plan and the broader family portfolio remains deliberately opaque from the outside — a feature that has preserved investment flexibility across three generations of wealth.

## Sectors

- Private Equity
- Venture Capital
- Real Estate

## People

- Henry L. Hillman — Founder
- Kevin Lavelle — CEO, The Hillman Company
- Joseph Manzinger — President, The Hillman Company
- David K. Roger — President, Hillman Family Foundations

## Questions

### Who runs investment decisions for the Retirement Plan for Salaried Employees of the Hillman Company?

Investment strategy and execution flow through The Hillman Company, the operating entity led by CEO Kevin Lavelle and President Joseph Manzinger. The plan does not maintain a separate investment committee with outside members. This integrated structure means the same team managing family capital also oversees pension assets, with the late Henry L. Hillman's investment philosophy — long-term, relationship-driven, concentrated — still shaping posture more than five years after his death.

### Does the Hillman plan participate in fund commitments or direct deals?

Both. The Hillman legacy includes limited partner commitments to foundational private equity vehicles — Henry Hillman was an original investor in KKR's first fund — alongside direct co-investment positions in technology companies. Recent known co-investments include Gather AI and ZEDEDA alongside Smith Point Capital. The family's real estate exposure operates through a dedicated commercial property portfolio rather than through third-party fund vehicles.

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

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