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Electrical Workers (IBEW) Local #357 Trust Funds
The IBEW Local 357 Trust Funds are the collectively bargained retirement and health benefit vehicles for roughly 3,000 active and retired electricians in...
Electrical Workers (IBEW) Local #357 Trust Funds
The IBEW Local 357 Trust Funds are the collectively bargained retirement and health benefit vehicles for roughly 3,000 active and retired electricians in Southern Nevada. Co-sponsored by the union and the National Electrical Contractors Association (NECA) Southern Nevada Chapter, the plans have a joint board of trustees, currently chaired by Assistant Business Agent and Nevada State Assemblyman Max Carter II. The funds reflect the dense institutional architecture of Las Vegas's building trades — a closed loop where union dues, contractor contributions, and investment returns all flow back to the same membership on the Las Vegas Strip. The funds pursue a multi-asset strategy emphasizing real estate, infrastructure, and private-markets secondaries. Known commitments skew heavily toward tangible assets with direct ties to the region. The trust owns the IBEW Local 357 Union Hall on North Lamb Boulevard, an administrative office on South Rancho Drive, and Union Family Health Centers in Las Vegas. Infrastructure exposure includes participation in the Gemini Solar Facility project in Clark County — an 11,000-acre photovoltaic installation supplying power to NV Energy and, eventually, Strip resorts. The trust has also backed the Electrical JATC of Southern Nevada Training Facility, a dedicated industrial training center that serves as both a labor-supply pipeline and a real asset on the balance sheet. In private markets, the strategy repeatedly tags secondaries, suggesting a preference for acquiring LP stakes in already-seasoned funds rather than taking blind-pool risk. Leadership sits with career IBEW officials. Business Manager James Halsey serves as financial secretary, while Assistant Business Manager Lamare Jones handles community and labor relations. The board's union-side trustees are accountable to the local's membership, creating a governance model where investment performance is subject to direct union-hall scrutiny. The trust's operational footprint extends beyond fiduciary duty: Max Carter II sits on the board of the Downtown Vegas Alliance, and the funds maintain ties to the Southern Nevada Building Construction Trades Council and the Union Sportsmen's Alliance. The trust's Taft-Hartley joint-trusteeship structure — with labor and management sharing fiduciary responsibility — distinguishes its governance from corporate pensions or public funds. Every allocation decision requires dual sign-off, and the real-asset portfolio is geographically anchored to Southern Nevada developments that employ the very members whose capital is at risk. That alignment of investment geography with union jurisdiction is rare among US building-trades pension plans and shapes a strategy where real estate and infrastructure holdings double as job-creation mechanisms for contributing members.
General information
Firm type
Pension Fund
Year founded
—
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Las Vegas
Corporate office
Las Vegas, NV, United States
Principals
Max Carter II
Chairman of the Board of Trustees, Assistant Business Agent
James Halsey
Business Manager, Financial Secretary
Lamare Jones
Assistant Business Manager
Sector focus
Frequently asked questions
Who runs investment decisions at the IBEW Local 357 Trust Funds?
The Board of Trustees, composed of equal numbers of union and employer representatives, governs all investment decisions. Max Carter II, Assistant Business Agent and Nevada State Assemblyman, currently chairs the board. Day-to-day administration and financial oversight fall to Business Manager James Halsey, who serves as financial secretary. The joint-board structure ensures neither labor nor management can unilaterally direct capital.
How does the trust's union affiliation shape its investment strategy?
The trust has a strong bias toward real estate and infrastructure assets within Southern Nevada, where Local 357 members live and work. Holdings include the union hall, administrative offices, union health centers, and participation in the Gemini Solar Facility, a major Clark County renewable-energy project. This geographic concentration channels pension capital back into projects that employ contributing members, creating a closed loop between investment returns and job creation.
Does the IBEW Local 357 Trust invest in alternative assets or just traditional stocks and bonds?
The trust actively allocates to alternatives, with a documented emphasis on real estate, infrastructure, and private-markets secondaries. The repeated tagging of secondaries in Altss research suggests a strategy of acquiring existing LP fund stakes rather than making primary commitments to new vehicles. Known assets include the Electrical JATC training facility and Union Family Health Centers, alongside traditional retirement-plan holdings.
What is the relationship between the trust and the NECA Southern Nevada Chapter?
NECA's Southern Nevada Chapter is the management-side co-sponsor of the trust funds under the Taft-Hartley framework. The chapter's member contractors contribute to the plans under collective bargaining agreements with Local 357, and NECA appoints half of the board trustees. This partnership extends to joint operation of the Electrical JATC of Southern Nevada, which trains apprentice electricians who become future plan beneficiaries.
How large is the IBEW Local 357 Trust Funds relative to other Nevada building-trades pensions?
The trust has not publicly disclosed its total assets under management. As a plan covering approximately 3,000 active and retired electricians in a major construction market, its asset pool is meaningful at the local level but smaller than statewide public pension funds like PERS Nevada. The trust's undisclosed AUM and reliance on private-markets secondaries suggest a conservative posture on public transparency about portfolio scale.
Are the trust funds exposed to the Las Vegas Strip gaming and hospitality sector?
Indirectly, yes. The Gemini Solar Facility supplies power to NV Energy, which serves Strip resorts, and the trust's heavy real-asset concentration in Southern Nevada means broader market performance in Las Vegas tourism and construction affects underlying asset values. However, the trust does not appear to make direct equity investments in gaming operators or hospitality companies; its exposure is through regional real estate and infrastructure.
What community or labor organizations are connected to the trust's governance?
The trust maintains connections to the Southern Nevada Building Construction Trades Council, the AFL-CIO, and the Union Sportsmen's Alliance. Chairman Max Carter II serves on the board of the Downtown Vegas Alliance, tying the plan to Las Vegas redevelopment efforts. These affiliations reinforce the trust's role as both a retirement vehicle and a labor-community institution.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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