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Sheet Metal Workers Local Union No. 28 Pension Fund
The Sheet Metal Workers Local Union No. 28 Pension Fund was established in 1979 as a multiemployer defined-benefit plan covering eligible sheet metal workers...
Sheet Metal Workers Local Union No. 28 Pension Fund
The Sheet Metal Workers Local Union No. 28 Pension Fund was established in 1979 as a multiemployer defined-benefit plan covering eligible sheet metal workers in the New York metropolitan area. The fund is jointly administered by the union — represented by Plan Administrator Eric Meslin — and contributing contractors affiliated with the Sheet Metal and Air Conditioning Contractors' National Association (SMACNA). Retirement, disability, and death benefits form the core obligations driving the fund's investment program. The portfolio deploys capital through a hybrid strategy emphasizing buyout commitments, fund-of-funds structures, and direct real estate. Identified real assets include a direct interest in 501 Greenwich Street, a commercial property in lower Manhattan, alongside allocations to the AFL-CIO Housing Investment Trust and the AFL-CIO Building Investment Trust. Geographically, the fund's investment footprint is concentrated in the United States, with real estate holdings reflecting a tilt toward Northeast and national targets sourced through labor-affiliated vehicles. The plan's strategy integrates exposure to private markets while maintaining liquidity for benefit payments. Trustees Kevin J. Gillen and Robert J. Rotillo oversee plan governance, while Executive Director Glen Camisa manages administrative operations from the Mineola, New York office. The fund participates within the broader SMART (International Association of Sheet Metal, Air, Rail and Transportation Workers) ecosystem but operates as a distinct local pension vehicle. Altss estimates total plan assets at roughly $357 million. September 2023: Plan leadership continued to embed union-aligned investment vehicles into the core portfolio structure, reflecting a long-standing preference for labor-friendly real estate funds (Altss research). The fund's structural differentiator is its multiemployer, jointly trusteed model — a governance architecture where union and contractor representatives share fiduciary authority. This labor-management partnership dictates an investment strategy that frequently foregrounds vehicles aligned with union employment, such as the AFL-CIO investment trusts, rather than solely maximizing unconstrained returns.
General information
Firm type
Pension Fund
Year founded
1979
Location
Region
North America
Country
United States
City
Mineola
Corporate office
Mineola, NY, United States
Principals
Eric Meslin
Plan Administrator
Glen Camisa
Executive Director of the Fund Office
William Rothberg
Plan Sponsor
Kevin J. Gillen
Trustee
Robert J. Rotillo
Trustee
Sector focus
Frequently asked questions
Who runs investment decisions at the Sheet Metal Workers Local Union No. 28 Pension Fund?
Fiduciary responsibility rests with a joint board of trustees that includes union and contributing employer representatives. Named trustees include Kevin J. Gillen and Robert J. Rotillo. Day-to-day administration is led by Plan Administrator Eric Meslin and Executive Director Glen Camisa. The fund may also engage external consultants or managers for specific asset-class mandates, though public disclosures on delegation are limited.
How does the fund source its real estate and private market deals?
A significant portion of deal flow appears to be sourced through labor-affiliated investment vehicles. Identified commitments include the AFL-CIO Housing Investment Trust and the AFL-CIO Building Investment Trust. The fund also holds a direct commercial property interest at 501 Greenwich Street in New York. This suggests a sourcing model tilted toward union-nominated funds and direct assets rather than broad third-party manager searches.
Is this fund a single-family office or does it operate more like a defined-benefit pension?
It is a multiemployer defined-benefit pension plan — not a family office. Contributions come from multiple sheet metal contractors who are party to collective bargaining agreements with Local Union No. 28. The plan provides retirement, disability, and death benefits to union members, making it a traditional Taft-Hartley pension vehicle governed by ERISA.
Does the fund participate in fund commitments, direct deals, or both?
The fund participates in both fund commitments and direct investments. It allocates to fund-of-funds and buyout strategies while also holding direct commercial real estate, exemplified by its interest in 501 Greenwich Street in Manhattan. The mix appears weighted toward union-aligned funds, with direct property holdings forming a smaller portion of the overall portfolio.
How is the Sheet Metal Workers Local Union No. 28 Pension Fund related to the international SMART union?
Local Union No. 28 is an affiliate of SMART, the International Association of Sheet Metal, Air, Rail and Transportation Workers. The pension fund is a separate legal trust established for Local 28 members and is not a direct obligation of the international union. Governance and fiduciary control remain at the local level through a joint labor-management board of trustees.
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.
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