Electrical Workers (IBEW) Local #332

Electrical Workers (IBEW) Local #332

IBEW Local 332 is the union chapter representing over 5,000 electricians and electrical workers across Santa Clara County, California. Founded to serve the electrical trades in what would become the global center of technology innovation, the local union negotiates collective bargaining agreements with the National Electrical Contractors Association (NECA), Santa Clara Valley Chapter, which jointly shape the pension and health benefits administered for members. The union's leadership includes President Pete Seaberg and historically former Business Manager Javier M. Casillas, who oversaw significant growth of the membership base that services the physical infrastructure powering Silicon Valley's largest employers. The Local 332 pension fund operates across its Part A and Part B defined-benefit plans, directing the majority of its investment activity toward private equity secondaries. This strategy provides a consistent mechanism to access seasoned, diversified private asset portfolios while managing the liquidity demands of a maturing retiree base. The fund's capital touches the core real assets that union members help construct, with direct ownership of union-related facilities including the IBEW Local 332 Headquarters and Meeting Hall in San Jose and the Electrical Training Alliance of Silicon Valley facility, reflecting a tangible alignment between the pension pool and the membership's trade. Its geographic focus is strictly anchored in the United States, primarily within the Western region. Alongside the pension plans, the union administers a Health and Welfare Trust Fund and operates the Electrical Training Alliance of Silicon Valley (ETASV), a joint apprenticeship committee with NECA that trains the next generation of licensed electricians. The union maintains active professional networks including the Electrical Workers Minority Caucus (EWMC) and RENEW, which engages younger members in union leadership. The total scale of assets across the pension and welfare plans is not publicly disclosed. A political action committee, IBEW Local 332 Political Action Committee, provides a separate vehicle for member contributions directed toward labor-aligned advocacy efforts, structurally segregated from the pension funds. The fund's structural differentiator lies in its niche credit mandate: a union pension plan that operates as an essential liquidity provider in the secondaries market while also serving as a direct owner of the trade-training real estate that its membership constructs. This architecture creates an operational flywheel where real estate assets train the membership and the membership builds the regional infrastructure that backstops its own retirement pool, a function uniquely unavailable to non-union or generic institutional allocators.