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Pipefitters Union Local No. 537 Pension Fund
The Pipefitters Union Local No. 537 Pension Fund was established in 1956 to provide retirement benefits to members of the Boston-area pipefitting local.
Pipefitters Union Local No. 537 Pension Fund
The Pipefitters Union Local No. 537 Pension Fund was established in 1956 to provide retirement benefits to members of the Boston-area pipefitting local. Daniel T. O'Brien holds the dual role of Business Manager and trustee. The fund allocates to private equity through commitments to HarbourVest Partners, BPEA EQT, Frontenac XI, Further Global Capital Partners, and Schroders Capital Taft-Hartley Ventures. It also maintains a position in Intercontinental U.S. Real Estate Investment Fund. Geographic exposure centers on the United States with additional commitments spanning Asia and global markets. Asset-class mix includes buyout, secondaries, and real estate vehicles. The fund reports 885 million dollars under management. It maintains related vehicles including the Health and Welfare Fund and Vacation Fund, plus the Pipefitters Local 537 Charitable Foundation and Scholarship Fund. No additional offices are disclosed. The fund follows Taft-Hartley investment principles that incorporate responsible contractor policies and labor-friendly criteria. Governance ties investment decisions to the union's elected leadership and joint boards with employer associations such as the New England Mechanical Contractors Association.
General information
Firm type
Pension Fund
Year founded
1956
Location
Region
North America
Country
United States
City
Dorchester
Corporate office
40 Enterprise Street, Suite 463, Dorchester, MA 02125-1638, United States
Principals
Daniel T. O'Brien
Business Manager and Financial Secretary-Treasurer
Sector focus
Frequently asked questions
Who runs investment decisions at the Pipefitters Union Local No. 537 Pension Fund?
Daniel T. O'Brien serves as Business Manager, Financial Secretary-Treasurer, and trustee. Investment authority rests with the board of trustees under Taft-Hartley governance.
Does the fund participate in fund commitments or only direct deals?
The fund acts as a limited partner in external vehicles. Confirmed commitments include HarbourVest Partners, BPEA EQT, and Intercontinental Real Estate Investment Fund.
What asset classes receive allocations?
Private equity receives 5.31 percent of assets. Real estate holdings include the Intercontinental fund and direct properties such as the union hall and training center.
Where does the underlying wealth come from?
Contributions come from participating employers under collective bargaining agreements with Pipefitters Local 537.
How is the fund related to the United Association?
The fund maintains affiliation with the United Association as the parent international union.
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