# Verizon Pension Plan for Associates

Verizon Pension Plan for Associates is a Pension Fund based in Basking Ridge, United States.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Basking Ridge, United States
- **Region:** North America
- **Address:** One Verizon Way, Basking Ridge, NJ 07920, United States
- **Founded:** 1929
- **Assets under management:** 13.525B (Altss estimate)
- **Website:** verizon.com
- **LinkedIn:** https://www.linkedin.com/company/verizon

## Regulatory record

- **Reports private funds:** No

## About

The plan traces to 1929 and operates as the primary retirement vehicle for Verizon Communications Inc. employees. It absorbed the Alltel Corporation Pension Plan and functions through the Verizon Master Pension Trust. Allocations include private equity commitments to Arlington Capital Partners, The Halifax Group, Calera Capital, Blackstone Capital Partners, and KKR Lending Partners. Real estate exposure covers mixed-use properties in the United States, Europe, and Asia. Infrastructure and natural resources portfolios target global physical assets, while hedge fund holdings employ market neutral, event driven, equity long/short, and global macro strategies. The plan also maintains positions in U.S. government securities and corporate debt instruments. Verizon Investment Management Corp executes day-to-day management. The structure includes direct ownership of the Verizon Basking Ridge Headquarters campus and a 100 percent stake in VEBA Partnership N LP. No additional offices are disclosed. The plan maintains relationships with Prudential Insurance Co. of America and RGA Reinsurance Co. for annuity settlements. The plan's architecture centers on its status as a single-sponsor defined benefit vehicle tied directly to Verizon Communications Inc., with investment decisions executed through a wholly owned subsidiary rather than an external advisor network.

## Sectors

- Private Equity
- Real Estate
- Infrastructure
- Hedge Funds

## People

- George Brady Connor — President & CIO
- Laurence Fulton — Chief Investment Officer
- Zhuoying (Joy) Xu — VP, Asset Allocation

## Questions

### Who runs investment decisions at Verizon Pension Plan for Associates?

George Brady Connor serves as President and CIO of Verizon Investment Management Corp. Laurence Fulton acts as Chief Investment Officer. Zhuoying (Joy) Xu handles strategic and tactical asset allocation.

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

The plan acts as a limited partner in private equity funds, real estate funds, and hedge funds. It also holds direct ownership of the Basking Ridge headquarters and VEBA Partnership N LP.

### What asset classes receive the largest allocations?

Private equity, hedge funds, real estate, infrastructure, and natural resources form the core mix. Group annuity contracts represent a significant settled-liability component.

### How is the plan related to Verizon Communications Inc.?

Verizon Communications Inc. is the plan sponsor and ultimate parent. Verizon Investment Management Corp operates as a wholly owned subsidiary that manages the assets.

## Related profiles

- [KB Capital](https://altss.com/profile/kb-capital)
- [Green Climate Fund](https://altss.com/profile/green-climate-fund)

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

Canonical page: https://altss.com/profile/verizon-pension-plan-for-associates

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