Steamship Trade Association of Baltimore - International Longshoremen's Association

Steamship Trade Association of Baltimore - International Longshoremen's Association

The Steamship Trade Association of Baltimore - International Longshoremen's Association Pension Fund serves the retirement needs of ILA members working the Port of Baltimore, one of the East Coast's busiest container and roll-on/roll-off hubs. Established through collective bargaining between the Steamship Trade Association—representing terminal operators including Ports America Chesapeake—and ILA Locals 333, 953, 1429, and 2066, the fund is a Taft-Hartley multiemployer plan. Contributions flow from USMX employers under master contract agreements. The fund pursues a strategy weighted heavily toward secondaries and special situations, acquiring limited partner interests in private equity, infrastructure, and real estate vehicles on the secondary market. This approach aims to reduce J-curve drag and improve vintage-year diversification relative to primary commitments. Asset-class exposure spans real estate, private credit, infrastructure, and secondaries, with a geographic concentration in North American port-adjacent and logistics-linked assets that mirror the membership's industry. The fund's investor base—union longshoremen—creates a natural alignment with real-asset investments tied to maritime supply chains. The plan operates from a dedicated fund office on Tributary Street in Baltimore, with administrative presence in Nottingham, Maryland. Named trustees include Joseph M. Greco Sr., who leads the Steamship Trade Association, and Richard P. Krueger III, a trustee representing the fund. The association maintains ties to the National Maritime Safety Association and the North Atlantic Ports Association, reinforcing its embeddedness in the port operator ecosystem. The fund's structure as a Taft-Hartley plan means its governance is jointly trustee-managed by labor and employer representatives—a structural differentiator from corporate or public pension plans. Investment decisions must satisfy fiduciary duties codified under ERISA while navigating the cyclical dynamics of container volumes, auto imports, and labor negotiations that define the Port of Baltimore's economic rhythm.