# Belzberg & Co.

Belzberg & Co. is a Multi Family Office based in New York, United States.

## Overview

- **Organization type:** Multi Family Office
- **Headquarters:** New York, United States
- **Region:** North America
- **Address:** New York, NY, United States
- **Founded:** 2021
- **Assets under management:** $1.7B (Altss estimate)
- **Website:** belzbergco.com
- **LinkedIn:** https://www.linkedin.com/company/belzberg-co

## Regulatory record

- **CRD number:** 315114
- **SEC file number:** 801-122124
- **Registration status:** Registered
- **Reports private funds:** Yes
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/315114

## About

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. 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.

## Sectors

- Luxury
- Real Estate
- Private Equity

## People

- Strauss Zelnick — Chairman

## Questions

### Who runs investment decisions at Belzberg & Co.?

Chairman Strauss Zelnick, who also runs Take-Two Interactive, sets the strategic direction. Day-to-day deal execution and broker-dealer operations fall to Managing Director Jason van Itallie, who joined the affiliate Belzberg Capital LLC in 2018. The board includes Alex Michael of LionTree, providing a tech-sector lens on opportunities.

### Does Belzberg & Co. participate in fund commitments or only direct deals?

Both. The firm deploys capital through direct co-investments and SPVs, as seen in the Kendra Scott deal alongside HPS Investment Partners and 65 Equity Partners. It also invests via its Balfour Pacific family of real estate limited partnerships for property holdings and participates in the CAZ Investments co-investment network.

### What is the firm's known posture on co-investments alongside external GPs?

Co-investing is a core part of the model. The firm actively partners with external managers and networks like CAZ Investments to access deal flow. Its constituent families have historically backed major hedge funds; the Belzbergs were seed investors in Israel Englander's Millennium Management.

## Related profiles

- [Belz Family & Associates](https://altss.com/profile/belz-family-and-associates)
- [Alcalá Investments](https://altss.com/profile/alcala-investments)

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Last updated: 2026-08-10T15:58:45.833Z

Canonical page: https://altss.com/profile/belzberg-and-co

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