Why are union pension funds investing in data centers? A real estate fund backed by AFL-CIO pension funds has just acquired three northern Virginia data centers. This follows an investment in Sabey Data Centers by a unit of the National Electrical Benefit Fund (NEBF) to form a new venture to expand Sabey’s data center operations beyond its core market in the Pacific northwest. The NEBF, a multi-billion dollar pension plan that provides retirement benefits to employees in the electrical industry, invested $100 million in the venture. The goal? To create a virtuous cycle in which the pension fund makes money from the data center project, which in turn creates jobs for members of the electricians' union, the IBEW. This video, produced by the IBEW, provides an overview of the pension fund's investment in Sabey. It runs about 6 minutes, 30 seconds.
Why Union Pension Funds Are Investing in Data Centers
Why are union pension funds investing in data centers? This video takes a look at an investment in Sabey Data Centers by a pension fund for electricians, which seeks to create a two-fold benefit - investment gains for the pension fund and jobs for the union workers.