# Southern California Pipe Trades Health and Welfare Southern California Pipe Trades Health and Welfare is a Pension Fund based in Los Angeles, United States. ## Overview - **Organization type:** Pension Fund - **Headquarters:** Los Angeles, United States - **Region:** North America - **Address:** Los Angeles, CA, United States - **Founded:** 1958 - **Assets under management:** $1.4B (Altss estimate) - **Website:** www.scptac.org - **LinkedIn:** https://www.linkedin.com/company/southern-california-pipe-trades-administrative-corporation ## Regulatory record - **Reports private funds:** No ## About Founded in 1958 under a collective bargaining agreement between District Council No. 16 and the California Plumbing and Mechanical Contractors Association, this Los Angeles-based plan provides retirement security for union plumbers, pipefitters, and HVAC technicians. The fund operates through the Southern California Pipe Trades Administrative Corporation, a structure that keeps investment governance tightly coupled with union trustees and employer representatives. Employer trustee Robert Felix of ACCO Engineered Systems sits alongside labor trustees, creating a board where building-systems operators shape capital allocation decisions directly. The plan pursues an unusually wide strategy for a Taft-Hartley fund. Beyond core real estate — including the Marina Village redevelopment in San Diego, co-invested with Monarch Group and Suntex Marinas — the fund commits to venture capital across seed through late-stage, distressed debt, mezzanine financing, and natural resources. A position in the BentallGreenOak US Core Plus Fund anchors real estate exposure, while joint ventures with Centerbridge Partners target marina acquisitions. This mix of direct co-investments and fund-of-funds commitments reflects an institution comfortable stepping outside the fixed-income corridor where most multi-employer plans reside. The fund owns a network of six training centers across Southern California — real assets in El Monte, Bakersfield, Colton, San Diego, and Ventura — that double as workforce-development infrastructure and commercial properties. In May 2024, trustees participated in the Southern California Water Coalition's infrastructure summit, reinforcing the plan's interest in water-resilience investments alongside its broader real-asset strategy. The fund also engages with the California Hydrogen Business Council, signaling early-stage attention to green hydrogen infrastructure. The structural differentiator is governance: unlike single-family offices or endowment-model plans, this fund operates under ERISA and Taft-Hartley rules with equal labor and employer trustee representation. That board composition filters every allocation through the lens of multi-decade pension obligations and union-sustainability interests — producing an investment posture that pairs venture-stage risk with hard-asset collateral like training facilities and marina developments. ## Sectors - Real Estate - Infrastructure - Venture Capital - Private Credit - Natural Resources ## People - Rodney Cobos — Plan Administrator and Trustee - Robert Felix — Employer Trustee ## Questions ### Who runs investment decisions at the Southern California Pipe Trades Health and Welfare fund? Plan Administrator Rodney Cobos oversees day-to-day operations, with investment decisions ultimately resting with a board of trustees split equally between labor representatives from District Council No. 16 and employer representatives from signatory contractors. Employer trustee Robert Felix of ACCO Engineered Systems brings mechanical-systems expertise to the boardroom. The dual-trustee structure means no single party controls asset allocation. ### How does a Taft-Hartley pension plan source venture capital and distressed debt deals? The fund accesses these strategies primarily through fund commitments and co-investments alongside established partners. Its relationship with Centerbridge Partners provides an entry point into distressed and special-situations investing, while direct co-investments in projects like Marina Village demonstrate a willingness to commit capital alongside operating partners such as Suntex Marinas and Monarch Group. The fund also utilizes a fund-of-funds structure to diversify across venture stages. ### What real assets does the fund own directly? Beyond its fund positions, the plan holds a portfolio of training centers — industrial properties in El Monte, Bakersfield, Colton, San Diego, and Ventura — that serve apprentices and journeymen while functioning as income-producing real estate. The Marina Village mixed-use redevelopment in San Diego represents a co-investment alongside Suntex Marinas and Monarch Group. These direct holdings sit alongside the BentallGreenOak US Core Plus Fund commitment. ### Is this fund open to co-investment from outside institutional investors? No. As a Taft-Hartley multi-employer pension plan, the fund invests for the exclusive benefit of plan participants and beneficiaries. The co-investments observed — with Centerbridge Partners, Suntex Marinas, and Monarch Group — are deals where the fund invests alongside external partners, not vehicles that accept outside capital into the plan. ### How does the fund's governance structure affect its investment posture? The equal labor-employer trustee split means every allocation must satisfy both constituencies: union trustees focused on participant security and contractor trustees attuned to industry cycles. This has produced a bifurcated portfolio — conservative core real estate and credit alongside venture-stage and distressed exposure — where hard-asset training centers provide a balance-sheet floor while fund commitments reach for higher returns. ## Related profiles - [CAPAV](https://altss.com/profile/caisse-de-retraite-paritaire-de-l-artisanat-du-b-timent-du-canton-du-valais-capav) - [Fondazione Cassa di Risparmio di Lucca](https://altss.com/profile/fondazione-cassa-di-risparmio-di-lucca) --- Last updated: 2026-06-03T20:00:00.000Z Canonical page: https://altss.com/profile/southern-california-pipe-trades-health-and-welfare Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology