# Dominion Energy Defined Benefit Master Trust

Dominion Energy Defined Benefit Master Trust is a Pension Fund based in Richmond, United States.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Richmond, United States
- **Region:** North America
- **Address:** Richmond, VA, United States
- **Founded:** 1995
- **Assets under management:** $100M - $250M (Altss estimate)
- **Website:** www.dominionenergy.com
- **LinkedIn:** https://www.linkedin.com/company/dominionenergy

## Regulatory record

- **Reports private funds:** No

## About

Dominion Energy Defined Benefit Master Trust was established in 1995 to manage retirement obligations for Dominion Energy, the Richmond-based utility whose operations span 16 states. The trust operates under an Asset Management Committee that sets investment guidelines, with plan administration led by Director of Accounting Michael Glahn. Dominion Energy's CEO Robert M. Blue and CFO Steven D. Ridge sit atop the corporate structure that governs the trust's strategic direction. The trust pursues a multi-manager approach spanning buyout, growth equity, venture capital, distressed debt, mezzanine, and secondaries. Real asset exposure includes the PGIM European Core-Plus Fund and industrial data-center real estate in Northern Virginia — a market Dominion knows intimately as a major energy provider to the world's densest server-farm corridor. A dedicated Dominion Stock Fund gives participants direct exposure to the parent company. The strategy blends external fund commitments with direct co-investments, a posture more common among endowments than corporate pensions. With an estimated $139 million in assets, the trust is modest by institutional standards but carries the governance and fiduciary rigor of a publicly traded Fortune 500 sponsor. Adjacent structures include the Dominion Energy Charitable Foundation, which channels corporate philanthropy across communities in the company's service territory. Dominion executives also maintain ties to the American Gas Association, the University of Virginia Board of Visitors, and Virginia Union University's Board of Trustees. The trust's structural distinction lies in its parentage: a regulated utility with captive energy infrastructure and real estate insight. That operating-company relationship gives the trust unusual proximity to energy-transition deal flow and data-center development markets, while its multi-manager architecture lets external GPs do the heavy lifting on sourcing.

## Sectors

- Energy Transition & Renewables
- Infrastructure
- Real Estate
- Private Credit
- Secondaries & Special Situations

## People

- Robert M. Blue — Chair, President and CEO of Dominion Energy, Inc.
- Steven D. Ridge — Executive Vice President and Chief Financial Officer of Dominion Energy, Inc.
- Michael Glahn — Plan Administrator, Director of Accounting

## Questions

### Who runs investment decisions at Dominion Energy Defined Benefit Master Trust?

An Asset Management Committee of Dominion Energy, Inc. sets the investment guidelines for the Master Trust. The committee operates under the corporate oversight of Chair and CEO Robert M. Blue and CFO Steven D. Ridge. Day-to-day plan administration falls to Director of Accounting Michael Glahn, who serves as Plan Administrator. The trust uses a multi-manager approach, delegating individual investment selection to external GPs.

### How does the trust source investment opportunities?

The trust commits capital through external fund managers and participates in direct co-investments alongside those managers. It does not operate a proprietary direct-sourcing team. The fund-of-funds and co-investment multi-manager structure means deal origination is outsourced to GP relationships, with the Asset Management Committee overseeing allocation and policy.

### What asset classes does the trust allocate to?

The trust deploys capital across private equity (buyout, growth, venture, early-stage), real assets (European core-plus real estate, Northern Virginia data-center industrial), private credit (distressed debt, mezzanine, CLOs), and secondaries. A Dominion Stock Fund provides public-equity exposure to the parent company. The strategy heavily weights infrastructure-adjacent and energy-proximate sectors.

## Related profiles

- [Winifred Stevens Foundation](https://altss.com/profile/winifred-stevens-foundation)
- [DuPage Foundation](https://altss.com/profile/dupage-foundation)

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Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/dominion-energy-defined-benefit-master-trust

Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology