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Consolidated Electrical Distributors (CED)
The Employees' Retirement Plan of Consolidated Electrical Distributors serves as the investment vehicle for the privately held electrical distribution giant...
Consolidated Electrical Distributors (CED)
The Employees' Retirement Plan of Consolidated Electrical Distributors serves as the investment vehicle for the privately held electrical distribution giant founded by Keith W. Colburn in 1957. CED grew into a national network of locations supplying electrical components, lighting, and renewable-energy products, generating the cash flows that seed the pension. The Colburn family — Keith retains the Chairman and President seat, while son Richard and daughter Carol Colburn Grigor serve as directors — maintains tight control, with operational leadership delegated to President and CEO Kurt Lasher and Secretary-Treasurer David T. Bradford. The plan allocates across venture capital, private equity, hedge funds, and direct real estate, reflecting a total-portfolio approach more common among single-family offices than industrial-company pensions. Real estate holdings span commercial and industrial properties in Texas, Washington, Illinois, Maine, and Colorado, including the CED corporate campus in Irving and satellite distribution facilities. The venture portfolio — which represents a notably public-facing allocation for a private pension — has included direct technology and energy-transition startup commitments alongside fund positions. The Colburn family's philanthropic architecture operates through three foundations: the Colburn Foundation, the Dunard Fund (led by Carol Colburn Grigor), and The Negaunee Foundation (led by Richard Colburn). Carol Colburn Grigor serves on the board of the Los Angeles Philharmonic Association, while the family is known for a significant collection of art and cultural patronage. CED executives also participate actively in the National Association of Electrical Distributors, reflecting deep industry integration. In 2024, the firm's operations continued to expand alongside electrical-infrastructure demand driven by grid modernization and data-center buildout. CED operates a corporate pension structured less like a passive liability-matching vehicle and more like an active family-backed investment office — the Colburns' governance straddles operating-company leadership and pension oversight without the institutional separation typical of public-company plans. That continuity of control shapes a long-duration posture and a willingness to invest directly in operating real estate and early-stage companies that a conventional pension committee might avoid.
General information
Firm type
Corporate Pension
Year founded
1957
Location
Region
North America
Country
United States
City
Irving
Corporate office
Irving, TX, United States
Principals
Keith W. Colburn
Chairman and President
Kurt Lasher
President and CEO
David T. Bradford
Secretary and Treasurer
Richard W. Colburn
Director, President of The Negaunee Foundation
Carol Colburn Grigor
Director, Dunard Fund principal
Sector focus
Frequently asked questions
How is the CED pension structured compared to a conventional corporate plan?
The Employees' Retirement Plan of CED functions closer to a family-office investment program than a typical defined-benefit pension. The Colburn family controls both the operating company and the plan, enabling direct allocations to venture capital, private equity, and physical real estate that are uncommon among passive corporate pensions. This governance overlap allows longer holding periods and a higher tolerance for illiquidity.
What role does the Colburn family play in investment decisions?
Keith W. Colburn remains Chairman and President of CED, with his children Richard Colburn and Carol Colburn Grigor serving as directors. While day-to-day company operations are delegated to President and CEO Kurt Lasher, the family maintains oversight of the pension's strategic direction. The plan's investment committee composition is not publicly disclosed.
Does the CED pension invest directly in operating companies or only through funds?
The plan commits through both direct co-investments and traditional fund structures. Its venture-capital activity spans generalist technology and energy-transition sectors, while its real estate portfolio includes directly owned commercial and industrial properties across multiple states. The mix varies by asset class and vintage.
How are CED's philanthropic activities separated from the pension?
The Colburn family operates three independent foundations — the Colburn Foundation, the Dunard Fund, and The Negaunee Foundation — that are legally distinct from the CED retirement plan. Richard Colburn leads The Negaunee Foundation, and Carol Colburn Grigor leads the Dunard Fund. Their philanthropic commitments include cultural institutions such as the Los Angeles Philharmonic.
What sectors or investment types does the CED pension explicitly avoid?
The plan does not publish negative screens. Given its private-company origins and industrial focus, there is no indication of restrictions on energy, industrials, or hard-asset exposure. Like most corporate pensions, it is subject to ERISA fiduciary standards, though its investment policy statement is not publicly available.
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