International Brotherhood of Electrical Workers

International Brotherhood of Electrical Workers

The International Brotherhood of Electrical Workers was founded in 1891 and has grown into a labor union representing members across utilities, construction, telecommunications, and government sectors in the United States and Canada. It is a principal affiliate of the AFL-CIO and maintains a parallel affiliation with the Canadian Labour Congress for its cross-border membership. The union's investment capital flows primarily through the National Electrical Benefit Fund, a jointly trusteed pension vehicle governed with the National Electrical Contractors Association and overseen by CEO and CIO Kevin McCormack. The fund pursues a direct real asset investment strategy, deploying into commercial and mixed-use properties. Confirmed positions include Boston's One Congress, The Sudbury, and Lincoln Plaza, as well as Four Constitution Square in Washington, D.C. (per Altss research). The portfolio also extends into a specialized healthcare facility via PAM Health Inpatient Rehabilitation Hospital and a mixed-use build-to-core fund named INDURE. The investment footprint is concentrated in the northeastern United States, with notable density in Boston and Washington, D.C. National Real Estate Advisors, based in Washington, D.C., serves as an investment manager for the fund's real estate mandates. The union's structure also supports a separate philanthropic apparatus through the Elaine Lonneman Scholarship Fund and the IBEW Founders' Scholarship. The organization maintains a professional network through North America's Building Trades Unions. The IBEW's architecture is defined by its Taft-Hartley trust structure. This joint union-management governance model means investment decisions are not made by a single CIO but through a board of trustees equally appointed by labor and management, creating a built-in negotiating dynamic over asset allocation and manager selection that distinguishes it from corporate or public pension plans.