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Tile Layers, Northern California
The Northern California Tile Industry funds constitute a multi-employer Taft-Hartley plan serving members of the International Union of Bricklayers and Allied...
Tile Layers, Northern California
The Northern California Tile Industry funds constitute a multi-employer Taft-Hartley plan serving members of the International Union of Bricklayers and Allied Craftworkers (BAC) Local 3. The benefits apparatus — spanning defined benefit, defined contribution, and health and welfare trusts — is supported by contributions from signatory contractors, primarily coordinated through the Tile Contractors Association of Northern California. Administration is based in Oakland with plan assets managed from nearby Pleasanton. The investment program is singularly focused on secondary market transactions — acquiring limited partner interests in existing private equity, venture capital, and real asset funds. This strategy bypasses the traditional primary commitment cycle, targeting mid-life fund stakes where remaining value and exit timelines can be modeled with greater certainty. The approach is consistent across all three benefit trusts, each maintaining distinct pools of secondary interests as part of their respective asset-liability frameworks. Team scale and total assets are not publicly detailed. The plan's structure as a multi-employer Taft-Hartley trust puts governance in the hands of a joint board of trustees, split evenly between union and employer representatives. BAC Local 3 and the Tile Contractors Association appoint these fiduciaries, who in turn oversee manager selection and allocation. Adjacent to the investment trusts, the Northern California Tile Industry Apprenticeship and Training Trust Fund maintains an independent program for workforce development. Structurally, the exclusive secondaries mandate distinguishes this plan from most Taft-Hartley peers, which typically spread commitments across primary funds, direct co-investments, and public equities. A pure secondaries program concentrates portfolio construction risk into a single strategy but offers potential advantages in vintage diversification and accelerated capital deployment relative to the blind-pool pacing required for primary commitments.
General information
Firm type
Pension Fund
Year founded
—
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Oakland
Corporate office
Oakland, CA, United States
Sector focus
Frequently asked questions
How does the Tile Layers, Northern California plan invest its capital?
Across its defined benefit, defined contribution, and health and welfare trusts, the plan directs its entire external investment allocation to secondary market purchases of limited partnership interests. The board targets mid-life fund stakes rather than making primary commitments, which provides greater visibility into underlying portfolio composition and remaining value before capital is deployed.
Who governs the Northern California Tile Industry benefit trusts?
A joint board of trustees oversees the funds, with members appointed in equal number by BAC Local 3, the union representing tile layers and bricklayers, and by the Tile Contractors Association of Northern California, which represents the contributing employers. This Taft-Hartley board structure gives both labor and management seats in determining investment policy and manager selection.
Are the different benefit trusts managed separately?
Yes. The Northern California Tile Industry Defined Benefit Plan, Defined Contribution Plan, and Health and Welfare Trust Fund each maintain distinct asset pools, all administered from Pleasanton, California. However, the documented investment strategy — exclusive secondaries — applies consistently across the benefit structure.
Is the apprenticeship fund part of the same investment entity?
No. The Northern California Tile Industry Apprenticeship and Training Trust Fund is a separate legal entity from the pension and welfare trusts. It operates its own program focused on workforce training for BAC Local 3 members and is administered independently from the investment trusts.
What types of secondary interests does the plan typically buy?
The plan's strategy centers on acquiring LP stakes in existing private equity, venture capital, and real asset funds from sellers seeking liquidity before the fund's natural termination. This approach does not involve direct company investments or primary fund commitments, keeping the portfolio concentrated in seasoned limited partnership interests where some capital has already been called and distributed.
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