Roofers Pacific Coast

Roofers Pacific Coast

The Roofers Pacific Coast Pension Fund is a multiemployer Taft-Hartley defined-benefit plan established to provide retirement security for members of the United Union of Roofers, Waterproofers & Allied Workers Local No. 36 in San Jose, California. The plan is jointly administered by a board of trustees representing both the union and contributing employers. Its funding derives from collectively bargained employer contributions rather than individual worker contributions, a structure typical of building-trades pension funds. The plan operates alongside a related Health and Welfare trust, which provides health benefits to the same membership base. The portfolio reveals a deliberate tilt toward real assets and credit strategies accessed through a mix of direct holdings and pooled vehicles. Holdings include a group annuity contract separate account, certificates of deposit, and a mortgage investment trust, alongside participation in the AFL-CIO Building Investment Trust, a large multi-employer real estate fund. The plan also maintains a REIT portfolio, indicating exposure to commercial real estate through publicly traded and possibly non-traded structures. The strategy documentation emphasizes secondaries, suggesting the fund acquires limited partnership interests from other investors in secondary transactions, a method that reduces blind-pool risk and provides visibility into underlying assets before committing capital. Team size and exact trustee composition are not publicly detailed. The fund's governance follows standard Taft-Hartley joint trusteeship, giving union and employer representatives equal board seats. This architecture prioritizes stable, income-producing investments that align with the long-duration liabilities of a mature pension plan. The geographic focus appears U.S.-centric, with real estate exposure spread across commercial and mixed-use assets held through the AFL-CIO trust and the REIT portfolio. The structural differentiator lies in the secondaries-heavy posture. Most building-trades pension plans default to traditional allocations — large-cap equities, core fixed income, and primary private-market commitments. Roofers Pacific Coast instead emphasizes secondary purchases and real estate debt, a combination that offers shorter capital deployment timelines and income visibility. For a smaller Taft-Hartley plan without the staff bandwidth for extensive primary due diligence, this approach provides institutional-quality exposure with lower operational complexity.