International Union of Electrical Workers, Washington, expects to make...

International Union of Electrical Workers, Washington, expects to make its first private equity investment in the Heartland Labor Investment Fund, said Doug Williams, a trustee for the $370 million defined benefit plan. The Heartland Labor Investment Fund is the working name for a new private equity fund that is being organized by Ronald Richman, an attorney with Schulte Roth & Zabel, and Tom Croft, executive director of the Steel Valley Authority, to invest in small industrial companies needing capital to modernize or expand.