# UA Local 486 Pension Plan

UA Local 486 Pension Plan is a Pension Fund based in Nottingham, United States.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Nottingham, United States
- **Region:** North America
- **Address:** Nottingham, Columbia, MD, United States
- **Founded:** 1962
- **Assets under management:** $344M (Altss estimate)
- **Website:** ualocal486.com
- **LinkedIn:** https://www.linkedin.com/company/plumbers-and-steamfitters-local-union-486

## Regulatory record

- **Reports private funds:** No

## About

The United Association of Plumbers & Steamfitters Local 486 Pension Plan was established in 1962 to provide retirement and disability benefits to members of the union. It is a multiemployer defined-benefit plan covering roughly 2,000 active and retired tradespeople across Maryland. Contributing employers include mechanical contracting firms such as EMCOR Group and Limbach Holdings, while the plan’s board of trustees includes officers of the local union. The plan allocates across private equity, venture capital, real estate, private credit, and special situations, with a preference for fund commitments, co-investments, and select direct deals. It has historically backed strategies ranging from early-stage venture and buyouts to distressed debt and secondaries. Its real-asset exposure includes a commercial property in Los Angeles managed by American Realty Advisors. The plan is indifferent to sector focus, instead evaluating generalist and multi-strategy managers that can operate across market cycles. The fund operates from Nottingham, Maryland, with a training facility in Baltimore and an administrative office in Seaford, Delaware. As of 2026, newly appointed administrator BeneSys took over plan administration. The pension is closely tied to the union’s training and labor-relations apparatus — the Joint Journeyman and Apprentice Training Facility is a separate but adjacent entity that supplies skilled labor to projects across the state. The plan’s structural differentiator is its willingness, as a mid-sized union pension, to commit to illiquid and earlier-stage strategies that many similarly sized multiemployer plans avoid. This posture is augmented by a co-investment and direct-deal capability that reduces fee drag, a feature more commonly associated with larger public pensions or family offices.

## Sectors

- Real Estate
- Private Credit
- Secondaries & Special Situations
- Venture (General)

## Offices

- Baltimore, MD (Training School)
- Seaford, DE (Office)

## People

- Pasquale D. Petrovia — Business Manager and Trustee
- Gary G. Glab — Officer/Trustee
- Chris Anderson — Officer/Trustee
- C. Ryan Ambrose — Officer/Trustee
- Harry Schleicher, Jr. — Officer/Trustee
- Stephen M. Nitsch — Officer/Trustee

## Questions

### How does the pension fund source its investment opportunities?

The plan relies primarily on fund-of-funds relationships, consultant recommendations, and direct engagement with general partners. Its co-investment and direct-deal pipeline is often sourced through existing fund managers, reflecting a relationship-driven approach common among mid-sized institutional investors.

### Is the UA Local 486 Pension Plan a single-employer or multiemployer plan?

It is a multiemployer defined-benefit plan. Contributions come from multiple signatory contractors — including EMCOR Group and Limbach Holdings — that employ members of the local union across Maryland.

### Does the plan participate in fund commitments or only direct deals?

The plan participates in both. While it makes commitments to private equity, venture capital, and real estate funds, it also allocates to co-investments and direct deals, giving it flexibility to lower blended fee loads.

### What investment stages does the plan typically target?

The plan targets the full spectrum — from early-stage seed and start-up venture through expansion, growth, buyout, distressed debt, and secondaries. This broad mandate allows it to back managers irrespective of stage or sector.

## Related profiles

- [California Teachers Association Member Welfare Benefit Plan](https://altss.com/profile/california-teachers-association-economic-benefits-trust-member-welfare-benefit-p)
- [St. John's College](https://altss.com/profile/st-johns-college)

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Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/united-association-of-plumbers-and-steamfitters-local-486-pension-plan

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