SEIU Capital Stewardship
The SEIU Capital Stewardship Program was created within the International union in 2000 as a center of excellence on capital and financial institutions and to facilitate partnership between SEIU and the trustees, administrators, advisors and investment managers of our members’ pension savings. SEIU members participate in 48 public pension funds and 19 private funds with approximately $1.5 trillion in assets, representing over 15% of all U.S. pension assets.
SEIU Capital Stewardship is a leading voice in North America on responsible investment. As an advocate for our members’ retirement savings, Capital Stewardship has led and participated in coalitions for greater shareholder rights, good corporate governance and transparency, alignment between executive compensation and shareholder interest, responsible finance and lending practices, accountability by hedge funds and private equity, and for considering the social and environmental impacts of investment decisions. Capital Stewardship advocates prudent, responsible, and financially sound investment policies.
Capital Stewardship supports the active ownership program created by the SEIU Master Trust Pension Plan, which manages pooled assets of three multi-employer pension funds. Together, the three funds have approximately $1.8 billion in assets on behalf of more than 50,000 participants and beneficiaries. The SEIU Master Trust is an active owner of its equity investments through shareholder resolutions, company engagement, and issue advocacy directly, and through active participation in the cOuncil of Institutional Investors and the UN principals for Responsible Investment.
Capital Stewardship’s capital development group work supports the development of responsible investment vehicles. Capital Stewardship has worked with investment firms committed to deploying capital in “high road” or “sustainable” strategies in real estate, private equity, infrastructure, and fixed income funds. The program’s Capital Development Group is currently working on innovative approaches to healthcare investing and community development finance.
Capital Stewardship also serves as an analytical center for the union to understand the impact of investment strategies and capital flows on its members’ core industries. SEIU unites 2 million public and private sector members in the Canada, the United States and Puerto Rico. Our members work primarily in public service delivery, health care, long term care, and property services.
Capital Stewardship is now a global program with staff based in London, Toronto, as well as Washington, New York, Oakland and Chicago. The program has expertise in private equity, corporate governance, socially responsible investing, market regulatory reform, community development finance, proxy voting, trustee education and fiduciary obligations.