Systima Capital Management

Systima Capital Management

Systima Capital Management LLC operates as the investment vehicle tied to the Carpenters' Pension Trust Fund of St. Louis, a plan established in 1969 that delivers retirement, disability, and death benefits to members of affiliated local unions. John Varones serves as founder and CEO. The firm allocates across private equity and real estate. Current exposure includes a 7.89 percent allocation to private equity. Confirmed holdings encompass The Residences at Kenilworth Park, a Washington DC affordable housing development completed with The Carding Group, Gragg Cardona Souadi, Renewal Housing, and Hallbridge Partners. Additional exposure covers the Systima Multifamily Portfolio spanning 42 states and multiple affordable housing credit and debt funds such as Systima Affordable Housing Credit Opportunities Fund III LP and Systima Affordable Housing Finance Fund I LP. Geographic reach centers on the United States with activity in the Midwest and national markets. The firm maintains six named private holdings in financial services operating businesses. Service providers include JPMorgan Hedge Fund Services for fund administration and Gilmore & Bell, PC for bond counsel. Systima signed the UN Principles for Responsible Investment on June 9, 2023. No operational events from the last 24 months appear in available records. Systima functions as both asset owner and manager for a single multiemployer pension client. This structure channels capital through dedicated SPVs and joint ventures rather than broad fund-of-funds commitments.