Updated:
Roofers & Waterproofers, Local #11
Roofers & Waterproofers Local #11 is a Chicago-area union pension fund led by Gary Menzel, investing in buyouts, real estate, and infrastructure.
Roofers & Waterproofers, Local #11
Roofers & Waterproofers Local #11 is a union pension fund established through collective bargaining agreements covering the Chicago metropolitan region. Its Business Manager, Gary Menzel, oversees the fund's operations alongside partnerships with the United Association and the Chicagoland Roofing Council, which help direct training and industry standards. The fund's investment strategy centers on buyout-oriented private equity and real estate deployment. It holds direct property assets including the Kruse Martini Office Center in Oak Brook, Illinois, as well as two apprenticeship training centers in Oak Brook and Milton, Wisconsin. The fund also participates in common or collective trusts, though specific allocations are not publicly disclosed. Operational support includes partnerships with Knickerbocker Roofing & Paving Co., a signatory contractor frequently involved in charitable events. The fund maintains memberships in the Chicago Federation of Labor, North America's Building Trades Unions, the Construction Industry Service Corporation, and the National Roofing Contractors Association. Its philanthropic arm operates Dollars Against Diabetes, known as D.A.D.'s Day. The fund is structured as a single-employer defined-benefit plan, distinguishing it from multi-employer Taft-Hartley plans common in the construction industry. This structure places investment discretion with Local 11's leadership rather than a joint board, concentrating decision-making with Menzel and the union's executive team.
General information
Firm type
Pension Fund
Year founded
—
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Oak Brook
Corporate office
Oak Brook, IL, United States
Principals
Gary Menzel
Business Manager
Sector focus
Frequently asked questions
Who runs investment decisions at Roofers & Waterproofers Local #11?
Gary Menzel serves as Business Manager and is the primary operator of the pension fund. He oversees asset allocation and partnership decisions, working with the union's executive leadership. The fund's governance structure places investment authority with Local 11's internal team rather than an external investment advisor.
Is Roofers & Waterproofers Local #11 a single-employer or multi-employer pension plan?
It is structured as a single-employer defined-benefit plan, covering workers from the roofing and waterproofing trades represented by Local 11. This differs from Taft-Hartley multi-employer plans common in construction, giving Local 11's management more direct control over investment decisions (per public record).
What investment stages does the fund typically target?
The fund's strategy is concentrated on buyout-stage investments, as indicated by its portfolio holdings and investment descriptions. This includes direct real estate acquisitions like its office center in Oak Brook and industrial training facilities, alongside private equity commitments through collective trusts.
How does Roofers & Waterproofers Local #11 source proprietary deal flow?
The fund relies on its network of union affiliates and contractor partners, including the Chicagoland Roofing Council and Knickerbocker Roofing & Paving Co. Its memberships in the Chicago Federation of Labor and North America's Building Trades Unions provide access to construction-related investment opportunities. The fund also uses collective trusts to access pooled investment vehicles.
Does the fund participate in fund commitments or only direct deals?
The fund engages in both direct real estate ownership and indirect investments through common or collective trusts. Direct holdings include its Oak Brook office center and training facilities, while trust commitments likely provide exposure to broader private equity and infrastructure strategies. Specific fund-level commitments are not publicly disclosed.
What is the relationship between Roofers & Waterproofers Local #11 and Knickerbocker Roofing & Paving Co.?
Knickerbocker Roofing & Paving Co. is a signatory contractor that frequently collaborates with Local 11 on charitable events and industry training. The relationship is operational rather than investment-driven, with Knickerbocker serving as an employer partner that contributes to the pension fund through collective bargaining agreements.
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.
Need institutional-grade insight on family offices?
Altss delivers:
Prefer a guided tour?
We’ll walk you through: