Updated:
Plumbers & Pipefitters, Local #525
Plumbers & Pipefitters, Local #525 is a Las Vegas-based union pension fund representing plumbing and pipefitting workers in southern Nevada.
Plumbers & Pipefitters, Local #525
Plumbers & Pipefitters, Local #525 is a Las Vegas-based union pension fund representing plumbing and pipefitting workers in southern Nevada. It operates under the United Association (UA) international union structure, with Matthew Lydon serving as business manager and David Wood as plan administrator. The fund's capital derives from employer and member contributions negotiated through collective bargaining agreements. It jointly administers benefit and pension trusts with the Mechanical Contractors Association of Las Vegas. The fund's stated investment strategy focuses primarily on secondaries, according to internal records. Beyond secondaries, it maintains exposure to private credit, real estate, and infrastructure assets. The fund holds commercial and industrial properties including the UA Local 525 Union Hall and the JATC Pipe Trades Training Center, both in Las Vegas. Two collective union health clinics in Henderson and northwest Las Vegas provide medical services to members. The fund also operates a mobile classroom for training purposes. The fund employs a lean administrative team rather than a large internal investment office. It maintains membership in the AFL-CIO and the Southern Nevada Building Trades industry association. Philanthropic operations include a separate grantmaking arm and a political action committee, both named after Local 525. The fund's structural differentiator is its joint administration model, where union and contractor representatives jointly govern trust funds. This shared governance structure between labor (UA Local 525) and management (MCA of Las Vegas) creates a built-in alignment mechanism uncommon in single-employer pension plans. The fund also maintains physical clinics and training facilities directly, unusual for a pension fund of its size.
General information
Firm type
Pension Fund
Year founded
—
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Las Vegas
Corporate office
Las Vegas, NV, United States
Principals
Matthew Lydon
Business Manager
David Wood
Plan Administrator and Business Agent
Sector focus
Frequently asked questions
How is Plumbers & Pipefitters Local #525 structured as a pension fund?
The fund operates as a multi-employer pension plan jointly administered by the union (UA Local 525) and the Mechanical Contractors Association of Las Vegas. Matthew Lydon serves as business manager representing labor, while David Wood handles plan administration. Both sit at the fund's Las Vegas headquarters.
What investment strategy does the fund pursue?
The fund allocates primarily to secondaries, according to internal records. It also invests in private credit, real estate, and infrastructure. The fund owns union hall and training center properties directly in Las Vegas and operates health clinics for members.
Who manages investment decisions at the fund?
Matthew Lydon, as business manager, oversees the fund's operations including investment decisions. David Wood serves as plan administrator. The fund may engage external investment advisors, but no named investment advisors appear in public records.
What is the fund's relationship with the United Association?
UA Local 525 is a local union chapter of the United Association (UA), the international union for plumbers, pipefitters, and sprinkler fitters. The UA provides the parent organizational structure, but Local 525 manages its own pension and benefit trusts locally.
Does the fund operate any charitable or political vehicles?
Yes. The fund maintains two separate vehicles: the Plumbers And Pipefitters Union Local 525 grantmaking arm and a PAC under the same name. These are distinct from the pension trust and funded separately.
How does the fund's joint administration model differ from single-employer plans?
Unlike single-employer pension funds, Local 525's trust funds are jointly governed by union and employer representatives. This arrangement creates formal alignment between labor and management on investment and benefit decisions. The Mechanical Contractors Association co-administers the trusts.
What physical assets does the fund hold?
Beyond financial investments, the fund owns several real properties in Nevada: the UA Local 525 Union Hall at 760 North Lamb Blvd in Las Vegas, the JATC Pipe Trades Training Center at 750 Legion Way, two union health clinics in Henderson and northwest Las Vegas, and a mobile classroom unit.
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.
Need institutional-grade insight on family offices?
Altss delivers:
Prefer a guided tour?
We’ll walk you through: