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United Brotherhood of Carpenters and Joiners of America (UBC)
The UBC was founded in 1881 in Chicago, representing carpenters, millwrights, and joiners across the U.S. and Canada.
United Brotherhood of Carpenters and Joiners of America (UBC)
The UBC was founded in 1881 in Chicago, representing carpenters, millwrights, and joiners across the U.S. and Canada. Douglas McCarron, the union's longest-serving General President, consolidated power in the 1990s and shifted the organization's investment strategy toward direct asset ownership. The union's pension fund deploys capital through buyout strategies and direct real estate holdings. Known owned assets include the UBC International Headquarters at 101 Constitution Ave. NW in Washington, DC, the Carpenters International Training Center in Las Vegas, and commercial properties such as the Homewood Suites and Tru by Hilton near the Las Vegas airport. The UBC also maintains a Canadian Built Opportunities Platform. Geographic footprint spans the U.S. and Canada. The union's investment team includes General Secretary-Treasurer Jason Engels and Director of Real Estate Randy Sowell. Adjacent entities include the UBC National Job Corps Training Fund and the Working Family's Friend advocacy group. In the last 24 months, the UBC has continued to manage its owned real estate portfolio and has engaged in buyout-focused commitments through its pension fund (public record). The UBC's structural differentiator is its hybrid model: a labor union with a significant direct real estate investment arm that operates hotels and training centers alongside a traditional pension fund allocating to private equity buyouts. Its governance centralizes investment decisions under the General President's office, distinct from many union funds that delegate to external managers.
General information
Firm type
Pension Fund
Year founded
1881
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Washington
Corporate office
Washington, DC, United States
Principals
Douglas J. McCarron
General President
Gary Perinar
General Vice President
Jason Engels
General Secretary-Treasurer
Randy Sowell
Director of Real Estate
Sector focus
Frequently asked questions
Who makes investment decisions at the UBC pension fund?
General President Douglas J. McCarron is the central figure, with General Secretary-Treasurer Jason Engels overseeing financial operations and Randy Sowell directing real estate investments. The structure concentrates authority under the General President's office, per the union's public filings.
Does the UBC pension fund invest in public equities or only private assets?
The UBC's described strategy is heavily tilted toward buyout commitments and direct real estate ownership. There is no public disclosure of public equity holdings, though the fund may allocate to private equity buyout funds as part of its pension portfolio.
What types of real estate does the UBC own?
The UBC owns commercial properties including its Washington, DC headquarters, the Carpenters International Training Center in Las Vegas, and two Hilton-branded hotels near the Las Vegas airport (Homewood Suites and Tru by Hilton). It also holds undeveloped land adjacent to the training center.
Is the UBC still affiliated with the AFL-CIO?
No. The UBC was a former member of the AFL-CIO and the Change to Win federation, but is currently unaffiliated with either labor federation, according to public records.
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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