# IBEW Local 292 IBEW Local 292 is a Pension Fund based in Brooklyn Park, United States. ## Overview - **Organization type:** Pension Fund - **Headquarters:** Brooklyn Park, United States - **Region:** North America - **Address:** 6700 West Broadway Ave, Brooklyn Park, MN 55428, United States - **Founded:** 1964 - **Assets under management:** Undisclosed (Altss estimate) - **Website:** www.ibew292.org - **LinkedIn:** https://www.linkedin.com/company/ibew-local-292 ## Regulatory record - **Reports private funds:** No ## About The Electrical Workers Local No. 292 Pension Plan was established in 1964 to serve members of the International Brotherhood of Electrical Workers union in the Twin Cities and central Minnesota. Business Manager Jeff Heimerl and President Dan Ferguson jointly oversee the plan as trustees, alongside management trustees from the Minneapolis Chapter of the National Electrical Contractors Association (NECA), the union's bargaining counterpart. The plan is housed at the Local 292 union hall on West Broadway Avenue, alongside affiliate vehicles including a defined contribution 401(k) plan, a health care plan, and a supplemental unemployment benefit plan — a constellation of benefits typical of large building-trades locals. The pension fund pursues a diversified private-markets strategy spanning buyout, growth equity, venture capital, distressed debt, and real assets. Its primary portal into alternatives is a fund-of-funds managed by GCM Grosvenor, where Heimerl sits on the LP Advisory Committee — a relationship that gives the plan access to co-investment and secondary opportunities alongside larger institutional pools. With an estimated $381 million in assets, the IBEW 292 plan is a mid-sized Taft-Hartley vehicle by national standards but represents substantial scale for a single-local union pension. The fund maintains a second union office in St. Cloud, extending its geographic footprint beyond the Twin Cities metro. Board interlocks reinforce the relationship-driven governance model: Heimerl serves on the board of Union Bank & Trust, while NECA provides management-side trustees for joint oversight of the fund. The plan draws on professional networks including the AFL-CIO and the Minneapolis Building and Construction Trades Council, forums where local pension trustees routinely share manager intelligence and discuss fiduciary practices. The plan's architecture reflects the structural constraints and strengths of the multi-employer model: stable, collectively bargained contribution streams offset an obligation to maintain strict funded-status discipline. Unlike single-employer plans, which may take concentrated bets, IBEW 292's fiduciary posture layers GCM Grosvenor's institutional gatekeeping atop its own trustee judgment — a dual-screen approach that spreads risk across dozens of underlying managers and thousands of portfolio companies. This design turns the plan's relatively modest size into a feature rather than a limitation, letting it co-invest alongside significantly larger pools without building a large internal investment staff. ## Sectors - Private Equity - Venture Capital - Real Estate - Private Credit - Infrastructure ## Offices - St. Cloud, MN ## People - Jeff Heimerl — Business Manager and Trustee - Dan Ferguson — President and Trustee ## Questions ### Who makes investment decisions for the IBEW Local 292 Pension Plan? The plan is governed by a joint board of trustees — half appointed by IBEW Local 292 (union trustees) and half by the Minneapolis Chapter of NECA (management trustees). Business Manager Jeff Heimerl is the most visible union-side trustee and also serves on the LP Advisory Committee for the GCM Grosvenor Fund I, the plan's primary alternatives vehicle. President Dan Ferguson is the other named union trustee. ### What other benefit plans does IBEW Local 292 operate? Beyond the defined-benefit pension, Local 292 runs a Defined Contribution and 401(k) Plan, a Health Care Plan, and a Supplemental Unemployment Benefit Plan — all based in Maple Grove, Minnesota. There is also a David K. Roe Scholarship Fund and a Political Education Fund, both functioning as separate affiliated vehicles rather than assets of the pension trust. ### How does the plan's relationship with GCM Grosvenor influence its strategy? GCM Grosvenor is one of the largest allocators to alternative investments for Taft-Hartley plans in the U.S., and IBEW 292's LP Advisory Committee seat gives it ongoing visibility into fund selection and strategy decisions. This arrangement effectively outsources day-to-day manager diligence while retaining governance at the trustee level — a common Taft-Hartley model that can produce institutional-quality portfolios without a large internal investment team. ### Where does the plan's capital come from? All contributions are negotiated between IBEW Local 292 and the Minneapolis Chapter of NECA, representing unionized electrical contractors in the Twin Cities and central Minnesota. Contribution rates are set in multi-year collective bargaining agreements. The plan's asset base is thus tied directly to the level of union electrical work in its jurisdiction — construction cycles, infrastructure spending, and local market share all influence contribution flow. ## Related profiles - [Fondazione Cassa di Risparmio di Perugia](https://altss.com/profile/fondazione-cassa-di-risparmio-di-perugia) - [Illinois State Treasury](https://altss.com/profile/illinois-state-treasury) --- Last updated: 2026-08-11T02:43:31.692Z Canonical page: https://altss.com/profile/ibew-local-292 Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology