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Steamfitters UA449 Pittsburgh
Steamfitters Local 449 was established in 1913. Kenneth Broadbent acts as Business Manager and trustee. The plan provides retirement, disability, and death...
Steamfitters UA449 Pittsburgh
Steamfitters Local 449 was established in 1913. Kenneth Broadbent acts as Business Manager and trustee. The plan provides retirement, disability, and death benefits to members in the Greater Pittsburgh region. The plan allocates to private equity through commitments to Hamilton Lane, GCM Grosvenor, iNetworks Advisors, and Nordic Capital. It also maintains long equity positions in issuers including Dell Technologies, Okta, KKR, and Expedia Group. Geographic exposure centers on North America with additional holdings tied to European managers. Real assets include the 75,000-square-foot Steamfitters Technology Center and the Pittsburgh Event Center, both held directly. The plan reports 427 million dollars in assets. It operates additional facilities including the Erie Satellite Office and a dedicated medical clinic. Adjacent vehicles include the Steamfitters Local 449 Scholarship Fund and the Joint Apprenticeship and Training Committee, established in 1962. April 2024: Attended the Berkeley Forum on Corporate Governance. The plan maintains an active litigation posture as lead plaintiff in multiple securities class actions, including matters involving Dell Technologies and KKR. This approach supplements standard pension investment activity with direct legal oversight of portfolio companies.
General information
Firm type
Pension Fund
Year founded
1913
Location
Region
North America
Country
United States
City
Harmony
Corporate office
232 Wise Road Suite 200, Harmony, PA 16037, United States
Additional offices
Erie, PA, United States
Principals
Kenneth Broadbent
Business Manager
Sector focus
Frequently asked questions
Who runs investment decisions at Steamfitters UA449 Pittsburgh?
Kenneth Broadbent serves as Business Manager and trustee with oversight of the pension plan. The plan also retains Hamilton Lane as investment advisor.
Does Steamfitters UA449 Pittsburgh participate in fund commitments or only direct deals?
The plan makes fund commitments to private equity managers including Hamilton Lane, GCM Grosvenor, and Nordic Capital. It does not disclose a direct deal program.
What investment stages does Steamfitters UA449 Pittsburgh typically target?
The plan targets buyout, growth, secondaries, and venture strategies through its fund commitments. No stage restrictions are published.
Where does the underlying wealth come from?
Assets derive from contributions by Steamfitters Local 449 members and employers under a defined benefit structure.
Does Steamfitters UA449 Pittsburgh maintain philanthropic structures, and how are they separated?
The plan supports the Steamfitters Local 449 Scholarship Fund and the Joint Apprenticeship and Training Committee. Both operate as separate 501(c) entities.
How is Steamfitters UA449 Pittsburgh related to United Association of Plumbers and Pipefitters?
Steamfitters Local 449 is an affiliated local of the United Association, the parent international union organization.
What is Steamfitters UA449 Pittsburgh's known posture on co-investments alongside external GPs?
No co-investment activity is disclosed. The plan's private equity exposure occurs through fund commitments.
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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