The Bricklayers and Allied Craftworkers Union of New Jersey

The Bricklayers and Allied Craftworkers Union of New Jersey

The Bricklayers and Allied Craftworkers Union of New Jersey Pension Plan was established in 2004 to serve eligible members of BAC Locals in New Jersey. The plan is overseen by Director John Capo, with Secretary Treasurer Leon Jones Jr. and local presidents Kenneth Simone and Lynn Canfield forming the core governance structure. The plan operates as a Taft-Hartley multiemployer fund, receiving contributions from signatory contractors across the state. The fund pursues a diversified private-markets allocation spanning secondaries, buyout, venture capital at seed through growth stages, venture debt, and special situations. The inclusion of venture debt and secondaries suggests a liquidity-conscious posture, a structural necessity for a mature defined-benefit plan with active retiree distributions. While specific portfolio holdings are not publicly disclosed, the strategy depth implies fund commitments and direct co-investments through institutional gatekeepers. The concentration of its real-asset exposure is visible in its ownership of union training and administrative facilities in Fairfield and Bordentown, New Jersey. The plan's scale — estimated at $78 million — places it in a cohort of smaller Taft-Hartley plans that often collaborate through group trusts or shared consultants to access institutional-quality funds. The fund is affiliated with the International Union of Bricklayers and Allied Craftworkers, the national labor organization representing trowel trades workers. BACNJ is also an inaugural member of the Future Ready New Jersey Coalition, a workforce development initiative focused on expanding economic mobility and educational attainment for construction career pathways. The plan's most meaningful structural feature is its dual character as both a pension investor and a direct real-asset owner of union training infrastructure. Owning its training centers gives the fund a hard-asset anchor and a direct line of sight into the workforce pipeline that ultimately funds the plan — a closed-loop dynamic absent from most similarly sized pension funds.