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U.A. Local Union Officers and Employees Pension Fund
The U.A. Local Union Officers and Employees Pension Fund operates as a trust fund for the individuals who manage the United Association of Journeymen and...
U.A. Local Union Officers and Employees Pension Fund
The U.A. Local Union Officers and Employees Pension Fund operates as a trust fund for the individuals who manage the United Association of Journeymen and Apprentices of the Plumbing and Pipe Fitting Industry. The UA represents roughly 366,000 members across North America, and this specific plan covers the union's own professional staff — not the rank-and-file membership. The plan is sponsored by UA General Secretary-Treasurer Patrick H. Kellett and General President Mark McManus, who serves as Plan Administrator. Because the fund does not publicly disclose its asset allocation, its known investment posture comes primarily from real estate filings. The fund holds an interest in Consortium Atlantic Realty Trust (CART), a commercial property vehicle in Washington, D.C. Beyond this direct real estate exposure, the plan almost certainly maintains a diversified institutional portfolio characteristic of its peer group: public equities, fixed income, and likely allocations to private markets common among Taft-Hartley plans of its vintage and governance structure. Its membership in the Council of Institutional Investors signals engagement on corporate governance matters that affect its equity holdings. The fund participates in broader institutional investor coalitions alongside organizations like the National Association of State Retirement Administrators and the National Council on Teacher Retirement, joining joint comment letters and advocacy efforts on pension policy. This coordination extends the fund's influence beyond its own asset base — which remains undisclosed — into the regulatory and governance frameworks that shape returns for all multi-employer and public-sector plans. The fund's structural differentiator is its narrow constituency: it serves the career employees who administer the UA's sprawling local and regional operations, not the pipefitters and plumbers themselves. This creates a distinct liability profile with fewer participants and higher average tenure than the larger UA National Pension Fund, and embeds the plan's governance within the union's own executive leadership — Plan Administrator McManus and Plan Sponsor Kellett are simultaneously the UA's two top elected officers.
General information
Firm type
Pension Fund
Year founded
—
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Annapolis
Corporate office
Annapolis, MD, United States
Principals
Mark McManus
Plan Administrator
Patrick H. Kellett
Plan Sponsor
Derrick Kualapai
Plan Sponsor
Sector focus
Frequently asked questions
Who runs investment decisions at the U.A. Local Union Officers and Employees Pension Fund?
Governance flows through the plan's Board of Trustees, which draws from the United Association's senior leadership. Mark McManus, the UA General President, acts as Plan Administrator, and Patrick H. Kellett, the General Secretary-Treasurer, serves as Plan Sponsor. The fund likely engages external investment consultants and OCIO services common among Taft-Hartley plans of its size, though no specific mandates are publicly documented.
How is this fund different from the main UA National Pension Fund?
The UA National Pension Fund covers rank-and-file pipefitters, plumbers, and service technicians via multi-employer contributions from signatory contractors. This plan covers only the union's own officers and employees — the administrative professionals who run the local unions, district councils, and state associations. It operates as a single-employer plan for the union apparatus itself, with a smaller participant pool and a distinct funding structure.
What real estate assets does the fund hold directly?
The fund holds an interest in Consortium Atlantic Realty Trust (CART), a commercial real estate vehicle focused on Washington, D.C. properties. Beyond this holding, the fund's real estate exposure may include core and core-plus commingled fund commitments typical of institutional pension portfolios, though the full allocation is not publicly disclosed.
Does the fund engage in co-investments or direct deals alongside external managers?
The CART investment suggests a willingness to participate in direct real-asset structures, but no evidence of private equity co-investment or direct deployment beyond real estate is publicly available. The fund's membership in the Council of Institutional Investors indicates an active equity-ownership posture, but likely through commingled or separately managed accounts rather than direct company stakes.
What is the fund's posture on corporate governance and shareholder advocacy?
Through its Council of Institutional Investors membership, the fund participates in collective engagement on governance standards, executive compensation, and shareholder rights. It also joins joint comment letters with NASRA and NCTR on regulatory matters affecting pension funds, indicating a coordinated rather than solo approach to policy advocacy.
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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