IATSE Local 33

The trust fund is governed by a board of trustees composed equally of union and employer representatives, as required by Taft-Hartley regulations. Abraham Montes serves as financial secretary and treasurer for the local. Day-to-day investment management is typically delegated to external advisors and consultants, though the specific investment committee composition is not publicly documented.

The pension fund does not publicly disclose its sourcing channels. Pension funds active in secondaries typically work through specialized placement agents, secondary advisory firms, or direct relationships with other limited partners seeking liquidity. Given the fund's size and niche strategy, it likely works with a dedicated secondary consultant or fund-of-funds manager to identify and underwrite LP interest purchases.

Available information indicates a strategy focused specifically on secondaries rather than primary fund commitments, distinguishing it from peer union pension plans. The trust fund has not publicly disclosed participation in primary fund closes. This secondary-only posture can benefit a plan with a smaller allocation program and a participant base in an industry characterized by project-based, variable employment.

The pension trust fund is legally separate from the union local, administered from a distinct office at 1200 Wilshire Boulevard in Los Angeles rather than the union's Burbank headquarters. The trust operates under Employee Retirement Income Security Act (ERISA) fiduciary standards and is overseen by trustees with joint union-management representation, a firewall structure standard across multi-employer plans.

The Walsh DiTolla Spivak Foundation is a philanthropic entity associated with the local. Its activities, grant-making focus, and governance structure are not publicly detailed. Union-affiliated foundations of this type typically fund scholarships, hardship relief, arts education, or community programs aligned with the membership's professional identity — in this case, the entertainment production crafts.

Contributing employers include live event venues, theatrical production companies, and entertainment studios with collective bargaining agreements covering Local 33's jurisdiction in the Burbank area. The local's membership works in live theater, concert touring, trade shows, and scripted television production, so employers span across venue operators, touring companies, and major studios with production operations in greater Los Angeles.

Entertainment industry employment is project-based, creating irregular contribution streams. A secondary-market investment strategy can partially mitigate this by allowing the fund to purchase seasoned partnership interests closer to realization, reducing the duration of capital lock-up compared to primary fund commitments. This structural fit has not been explicitly confirmed by the fund's trustees, but aligns with the observed strategy.