Mason Tenders' District Council Pension Fund

Mason Tenders' District Council Pension Fund

The Mason Tenders' District Council Pension Fund was established in 1955 to deliver retirement benefits to members of the Mason Tenders' District Council. Robert Bonanza acts as Business Manager of the district council while Mike Hellstrom and John O'Hare co-chair the board of trustees. The fund draws contributions solely from employers on behalf of union workers in construction trades. Allocations include a 6.57 percent target to private equity alongside real estate positions. Confirmed holdings encompass commitments to Neuberger Berman Private Equity Funds and Hamilton Lane Private Equity Funds. The fund also maintains direct ownership in commercial properties such as 215 West 18th Street in New York. Geographic exposure centers on the United States with additional positions in Italy through public equity. The fund lists 17,000 members and retains Neuberger Berman and Hamilton Lane as investment managers since 2018. Mercer serves as real estate consultant. An affiliated 501(c)(3) entity, Tenders Inc., was formed in 1999 to support arts initiatives in the New York construction community. In April 2024 the fund attended the Prysmian Ordinary Shareholders' Meeting in Milan as a shareholder. Governance follows a joint labor-management model with trustees drawn from the union and the Building Contractors Association. This structure separates benefit administration from investment execution through external managers while retaining direct real estate ownership in select cases.