# ULLICO

ULLICO is an Asset Manager based in Silver Spring, United States.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** Silver Spring, United States
- **Region:** North America
- **Address:** Silver Spring, MD, United States
- **Founded:** 1927
- **Assets under management:** Undisclosed
- **Website:** www.ullico.com
- **LinkedIn:** https://www.linkedin.com/company/ullico

## Regulatory record

- **CRD number:** 106628
- **SEC file number:** 801-36371
- **Registration status:** Registered
- **Reports private funds:** Yes
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/106628

## About

Ullico is the only labor-owned insurance and investment company in the United States. For over 95 years it has been a champion for the American worker, offering insurance coverages designed to protect unions, their leaders and members, as well as multiemployer and public benefit funds. It also offers investment products and services specifically designed for union sponsored and public employee benefit plans, seeking risk-adjusted returns while promoting union job creation.

## Sectors

- Insurance
- Real Estate
- Infrastructure
- Fixed Income
- Private Credit

## People

- Matthew Woll — Co-founder, President of the Photo Engravers Union
- George Perkins — Co-founder, President of the Cigar Makers Union
- Samuel Gompers — Supporter, President of the American Federation of Labor

## Questions

### Who runs investment decisions at ULLICO?

ULLICO's investment decisions are overseen by its management team, but the firm does not publicly disclose a named CIO or investment committee chair. The board of directors includes union representatives and shareholder-union leaders (per firm website).

### How does ULLICO source proprietary deal flow?

ULLICO sources deals through its union network. J for Jobs originates commercial mortgages directly, and the infrastructure fund participates in public-private projects. The firm relies on relationships with local tradesmen and union pension fund trustees (per firm history page).

### Does ULLICO participate in fund commitments or only direct deals?

ULLICO primarily makes direct investments through J for Jobs (commercial mortgages) and the Ullico Infrastructure Fund (infrastructure projects). It also offers insurance products directly to union entities.

### What investment stages does ULLICO typically target?

ULLICO invests in stabilized commercial real estate debt and infrastructure projects at construction or development stage. J for Jobs focuses on permanent first mortgages, while the infrastructure fund targets large-scale construction projects.

### Which sectors does ULLICO explicitly avoid?

ULLICO does not publicly disclose an explicit exclusion list, but its mandate restricts investments to projects that use union labor. This effectively excludes non-union commercial construction and sectors without union presence.

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Last updated: 2026-08-11T15:08:22.057Z

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