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Operating Engineers Local #825
Operating Engineers Local #825, based in Springfield, New Jersey, represents a multi-employer pension and welfare fund serving heavy-equipment operators and...
Operating Engineers Local #825
Operating Engineers Local #825, based in Springfield, New Jersey, represents a multi-employer pension and welfare fund serving heavy-equipment operators and stationary engineers. Business Manager and General Vice President Greg Lalevee has led the fund through a period of structural modernization, including financial restructuring and the transition of the union's technical training program into a degree-granting institution. The fund's capital originates from collectively bargained contributions by signatory contractors across New Jersey, New York City, and the lower Hudson Valley — a dense infrastructure corridor that includes the Port of New York and New Jersey, Newark Liberty International Airport, and the region's energy-transmission buildout. The fund deploys across a concentrated mix of real estate, infrastructure, and growth-capital vehicles. Directly held assets include the union's four-region office and training-center footprint: 65 Springfield Avenue headquarters, a 338 Deans Rhode Hall Road training complex in Dayton, a New Hampton district office in New York, and a South Jersey branch office in Bordentown. Beyond real property, IUOE825 maintains a heavy equipment fleet and a suite of training simulators, effectively operating as both asset owner and industrial operator. In infrastructure, the fund partnered with Blackstone Infrastructure Partners on workforce development tied to New Jersey's offshore wind transmission buildout — a co-investment that marries pension-deployment targets with the job pipeline for its own membership. Governance extends well beyond portfolio management. Lalevee holds seats on the New Jersey Transportation Trust Fund Authority as Vice Chairman and on the Executive Committee of Choose New Jersey, giving the fund direct visibility into the state's multi-billion-dollar capital planning cycles. The fund operates a parallel welfare fund and out-of-work fund from the same Springfield base, while the Engineers Labor-Employer Cooperative — a labor-management coalition of major building contractor associations and IUOE825 — bridges the fund's interests with the contractor community that generates its contribution base. Two charitable vehicles, the IUOE Local 825 Scholarship Fund and the Operating Engineers Local 825 Charitable Foundation, award scholarships and community grants. The structural distinction is the fund's operating-company posture. IUOE825 does not merely allocate to external managers; it owns the training campuses, the equipment, and the simulators that produce the workforce whose earnings refill the pension pool. That closed-loop architecture — pension capital funding the transmission and heavy-civil projects that union members build, with training infrastructure continuously restocking the skilled labor supply — makes the fund less a passive allocator and more an industrial-financial hybrid. The relationship with Hudson County Community College, through the 'Earn and Learn' associate-degree program for apprentices, extends this model into academic credentialing, further binding workforce development to long-term asset performance.
General information
Firm type
Pension Fund
Year founded
1920
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Springfield
Corporate office
Springfield, NJ, United States
Additional offices
Dayton, NJ, United States · New Hampton, NY, United States · Bordentown, NJ, United States
Principals
Greg Lalevee
Business Manager and General Vice President
Sector focus
Frequently asked questions
Who makes investment decisions at IUOE Local 825?
Business Manager and General Vice President Greg Lalevee is the principal investment decision-maker, operating from the Springfield, New Jersey headquarters. Lalevee also sits on the New Jersey Transportation Trust Fund Authority as Vice Chairman and on the Executive Committee of Choose New Jersey, giving the fund direct insight into state-level infrastructure planning. Investment direction flows through the fund's trustee structure, with benefit plans governed by joint labor-management boards.
How does IUOE825 source its deals, particularly in infrastructure?
Deal flow is filtered through the fund's deep integration with New Jersey's public-works ecosystem. Lalevee's seat on the Transportation Trust Fund Authority provides early awareness of multi-billion-dollar capital programs, while the Engineers Labor-Employer Cooperative — a coalition of major building contractor associations and IUOE825 — connects the fund to project sponsors. The Blackstone Infrastructure Partners co-investment on offshore wind transmission originated through this nexus of public planning, contractor relationships, and workforce-development mandates.
What does the fund actually own beyond financial assets?
IUOE825 directly owns four properties: headquarters at 65 Springfield Avenue in Springfield, NJ; a training center at 338 Deans Rhode Hall Road in Dayton, NJ; a district office and training center at 96 Bates/Gates Road in New Hampton, NY; and a branch office at 3242 Route 206 in Bordentown, NJ. The fund also owns a heavy equipment fleet and training simulators, effectively functioning as an industrial operator alongside its role as a pension allocator.
Does IUOE825 participate in fund commitments, co-investments, or direct deals?
The fund engages in all three. Its co-investment with Blackstone Infrastructure Partners on offshore wind workforce development and transmission is a recent example of direct infrastructure participation. IUOE825 also deploys into growth-capital vehicles, and its directly owned real estate and equipment fleet operate as on-balance-sheet assets. The precise allocation weighting across these channels is not publicly disclosed.
How are the pension and welfare funds separated from the union's operating budget?
IUOE825 maintains distinct legal entities for each pool of capital. The pension fund, the Operating Engineers Local No 825 Welfare Fund, and the Operating Engineers Local No 825 Out-Of-Work Fund all operate from Springfield but are separately governed trust funds. The scholarship fund and charitable foundation add further structural separation for non-pension capital deployment, each with independent grant-making authority.
What is IUOE825's relationship with the construction contractors that fund it?
The Engineers Labor-Employer Cooperative, or ELEC 825, formalizes the fund's relationship with signatory contractors. This labor-management organization comprises major building contractor associations and IUOE Local 825, creating a collaborative framework for workforce training, project promotion, and pension-contribution negotiation. It effectively aligns contractor interests with the pension fund's long-term asset growth, particularly on public-infrastructure projects where both parties benefit from predictable labor supply and cost structures.
Does the fund's training infrastructure generate revenue beyond supporting apprentices?
The New Jersey and New York training centers, including the Hudson County Community College 'Earn and Learn' associate-degree partnership, primarily serve union apprentices and journey-level members. However, the simulators and heavy-equipment training capacity could theoretically be contracted to third-party employers or government workforce programs — a potential revenue stream. Public disclosures do not currently confirm external revenue generation, and the centers remain classified as industrial and mixed-use assets on the fund's balance sheet.
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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