Sheet Metal Workers' Pension Plan of Southern California Arizona and Nevada

Sheet Metal Workers' Pension Plan of Southern California Arizona and Nevada

The Sheet Metal Workers' Pension Plan of Southern California, Arizona and Nevada was established in 1958 as a defined-benefit plan covering union members under the International Association of Sheet Metal, Air, Rail and Transportation Workers (SMART). The plan operates from Manhattan Beach, California, governed by a board of trustees with equal representation from labor — including SMART Local Union 105 — and management, represented by signatory employers and the Sheet Metal and Air Conditioning Contractors' National Association (SMACNA). Contributing employers span the construction and industrial services sectors, including publicly traded firms EMCOR Group, MDU Resources Group, and Limbach Holdings. The plan's investment strategy stretches across a diversified, multi-asset-class portfolio built for long-duration liability matching. Allocations include private equity, pursued through both buyout fund commitments and a fund-of-funds structure; natural resources and special situations strategies; and a direct real estate program. The plan holds title to an office property at 4897 Lake Park Boulevard in Salt Lake City, Utah, and occupies its own headquarters at 111 North Sepulveda Boulevard in Manhattan Beach. Real estate exposure is further augmented through a managed real estate equity fund commitment. While the plan does not publicly disclose its total assets, Altss estimates the portfolio at approximately $1.3 billion based on available records. The fund serves eligible sheet metal workers in three states — Southern California, Arizona, and Nevada — with participating local unions including SMART Local 105 and Local 88 in Las Vegas. No detailed team headcount or investment staff roster is published. A recent verifiable operational event within the last 24 months could not be identified from public record. The plan's structural differentiator lies in its fiduciary architecture: it is a jointly trusteed, multiemployer defined-benefit plan. This Taft-Hartley framework means investment policy, benefit administration, and withdrawal liability fall under a board where labor and management trustees share equal authority — a governance model that inherently shapes risk appetite, liquidity management, and the investment committee's decision-making timeline.