UA Local 467

UA Local 467

UA Local 467 operates as the San Mateo County chapter of the United Association of Journeymen and Apprentices of the Plumbing and Pipefitting Industry, dispatching skilled labor to major commercial and industrial projects across the Peninsula. Its pension apparatus — comprising defined benefit, defined contribution, and health and welfare trust funds administered from San Jose — pools member and employer contributions bargained under agreements with the Mechanical Contractors Association. While the funds' total asset size is not publicly disclosed, their growth trajectory aligns with the sustained construction cycle that has transformed the Bay Area office, life-science, and infrastructure landscape since the early 2000s. The funds' investment posture reflects classic building-trades allocation: a core of real estate and infrastructure alongside private credit and a growing venture capital sleeve. Real estate exposure includes the union's own 1519 Rollins Road training center in Burlingame, and the broader portfolio is managed under the direction of the Business Manager and trustees in consultation with institutional investment consultants. The venture capital allocation, stated as a strategy focus, signals an appetite for exposure to construction-tech, skilled-labor marketplaces, and industrial technology — sectors adjacent to the Local's on-the-ground knowledge of what increases job-site productivity. The fund operates within the larger network of North America's Building Trades Unions (NABTU), gaining access to co-investment intelligence and manager recommendations shared across affiliated locals. The California State Pipe Trades Council coordinates legislative and scholarship initiatives at the state level, creating an additional channel for institutional peer exchange. The plan maintains offices adjacent to its San Jose fund administration hub, ensuring proximity to the same Silicon Valley ecosystem whose physical expansion it helps supply with labor. Monthly trustee meetings — standard for Taft-Hartley plans — provide governance cadence. The structural differentiator is sourcing access derived from the parent union's presence on major Bay Area job sites. As a signatory contractor trust, the fund's trustees receive direct visibility into project pipelines before ground breaks — from chip-fabrication plants to hospital towers — that can inform both real asset investment timing and venture deal-flow into construction-adjacent technology. This information advantage, rare among institutional investors of any scale, flows from the Local's core operating business: putting pipefitters and plumbers onto exactly those sites.