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Teamsters Local 786
The Lumber Employees Local 786 Retirement Fund was established in 1961 as a multiemployer defined-benefit plan covering members of Teamsters Local 786 in...
Teamsters Local 786
The Lumber Employees Local 786 Retirement Fund was established in 1961 as a multiemployer defined-benefit plan covering members of Teamsters Local 786 in Chicago, Illinois. The union itself represents workers concentrated in building material supply, construction, and related trades, and the pension fund remains closely tied to the parent International Brotherhood of Teamsters. Secretary-Treasurer Bryant Smith, alongside trustees Eddie Rizzo, James Goddard, and Jose Melendez, oversees the plan's operations and benefit administration. The fund deploys capital across a deliberately diversified set of private market strategies — buyout, growth equity, mezzanine lending, and secondaries — executed through a hybrid fund-of-funds and direct investment model. Its known holdings include a global diversified real estate portfolio spanning mixed-use properties, though specific property names and manager relationships are not publicly disclosed. The geographic footprint concentrates on US-based assets but extends globally through its real estate exposures. The plan's total assets are estimated at approximately $339 million. The board of trustees meets regularly to review actuarial assumptions, funding status, and investment policy. In recent years, multiemployer plans like Local 786 have navigated the but-for provisions of the American Rescue Plan Act of 2021, which provided special financial assistance to severely underfunded plans; the fund's current funded status is not publicly reported. The investment committee structure and any consultant relationships remain opaque. What distinguishes Local 786 from a typical corporate pension is its multiemployer architecture — multiple employers contribute under collective bargaining agreements, and union trustees share fiduciary authority with employer trustees. This governance model means investment decisions must balance labor representation with the fiduciary duties codified under ERISA. The fund does not operate a separate philanthropic vehicle, but as a Taft-Hartley plan, it participates in the broader labor-capital ecosystem alongside dozens of sibling local pension funds across the Teamsters network.
General information
Firm type
Pension Fund
Year founded
1961
Location
Region
North America
Country
United States
City
Chicago
Corporate office
Chicago, IL, United States
Principals
Bryant Smith
Secretary and Treasurer
Eddie Rizzo
Plan Sponsor and Trustee
James Goddard
Vice President and Trustee
Jose Melendez
Trustee
Sector focus
Frequently asked questions
Who runs investment decisions at the Teamsters Local 786 Retirement Fund?
Investment and administrative oversight rest with the board of trustees, which includes both union-appointed and employer-appointed fiduciaries. Bryant Smith serves as Secretary-Treasurer, with Eddie Rizzo, James Goddard, and Jose Melendez currently listed as trustees. The fund likely engages an external investment consultant and allocates to outside managers, though specific delegation structures are not publicly disclosed.
How does the fund source its private market deals?
The fund operates through a hybrid model — combining allocations to private equity and real estate funds with some direct co-investment capability. As a $339 million plan, deal flow predominantly arrives through established general partner relationships and fund-of-funds intermediaries rather than proprietary direct origination. Specific GP relationships are not publicly named.
Is the Teamsters Local 786 fund a single-family office structure or a traditional pension?
It is a multiemployer Taft-Hartley defined-benefit pension plan — not a family office or corporate pension. Multiple unionized employers contribute under collective bargaining agreements to fund retirement benefits for Local 786 members, and the plan is governed by a joint board of trustees under ERISA.
What investment stages and asset classes does the fund target?
The fund allocates to buyout, growth equity, mezzanine debt, secondaries, and real estate. Stage coverage spans middle-market buyout through growth-stage equity, accessed via both primary fund commitments and secondary transactions. Its real estate portfolio includes global mixed-use properties.
Where does the fund's capital come from, and how is its benefit obligation structured?
Capital derives from employer contributions negotiated through collective bargaining agreements with lumber, building-material, and construction employers in the Chicago area. The plan provides retirement, disability, and death benefits to covered participants and is structured as a defined-benefit plan, meaning it bears the actuarial and investment risk of meeting promised benefit levels.
What is the fund's relationship to the broader International Brotherhood of Teamsters?
Local 786 is a chartered local union under the International Brotherhood of Teamsters. The retirement fund is legally separate but operationally intertwined — union officials serve as trustees, and the fund covers Local 786's membership. It operates alongside dozens of other Teamsters-affiliated local pension funds, each with independent boards and investment programs.
Is the fund open to receiving direct pitches from external managers?
The fund does not publicly solicit investment proposals and maintains a low external profile. Manager selection is typically conducted through consultant-led searches or existing GP relationships. Cold outreach is unlikely to receive a response given the trustee-governed, consultant-mediated decision process.
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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