Belzberg & Co.

Belzberg & Co.

Belzberg & Co. was established in 2021 by Strauss Zelnick, Chairman and CEO of Take-Two Interactive, to manage capital for a wider group of families beyond the original Belzberg circle. The underlying wealth traces to Samuel Belzberg, the late Canadian corporate raider whose First City Financial backed T. Boone Pickens and collaborated with Michael Milken during the 1980s. Today the office operates from New York under Zelnick's leadership, with Jason van Itallie running the affiliated broker-dealer Belzberg Capital LLC, an entity he joined in 2018 after stints at Barclays and Lehman Brothers. Investment activity spans private equity, direct co-investments, and real estate, structured through vehicles like Belzberg Investments LLC and the Balfour Pacific family of real estate limited partnerships. The firm participates in growth-stage deals, with confirmed positions including a co-investment alongside HPS Investment Partners and 65 Equity Partners in fine jewelry brand Kendra Scott. Real assets under management or influence range from the Dartmouth Crossing mixed-use development in Nova Scotia and the San Diego Airpark in Otay Mesa, California, to land holdings in Georgetown, Texas. While luxury is the only Altss-confirmed sector tag, the portfolio also touches oil and gas production, aviation interests, and silver. The firm claims a flexible capital pool, but no public AUM figure exists; Altss estimates roughly $1.7 billion based on known holdings and the family's historical scale. Team size is undisclosed. Belzberg & Co. operates as part of the CAZ Investments network, a co-investment ecosystem that grants access to deal flow and industry insights. Its board includes Alex Michael, a Managing Director at tech-focused merchant bank LionTree. Philanthropic interests, reflecting the Canadian roots of the Belzberg family, include Action Canada, the Banff Centre, and the Simon Wiesenthal Center. In 2024, the office deepened its institutional relationships through its affiliate's brokerage services, which are used by advisory firm Atlanticus Advisors. The office's structural differentiator is its tight integration with the broker-dealer Belzberg Capital LLC under common holding-company ownership — an architecture that blends family-office discretion with the execution capabilities of a registered FINRA member. This dual identity, inherited from the 1980s First City era and modernized by Zelnick, allows the firm to originate, structure, and place investments without fully relying on third-party intermediaries.