Cedars-Sinai Health System

Cedars-Sinai's long-term investment pool is managed by an internal Investment Office, though the system typically does not disclose the name or exact structure of its senior investment staff publicly. Ultimate oversight sits with the health system's board of directors and its finance committee, with day-to-day execution handled by a small internal team that allocates across external fund managers and direct co-investments. The CEO, Thomas Priselac, has been a constant strategic presence during the portfolio's evolution since 1994.

Cedars-Sinai operates primarily as an LP in healthcare-focused venture capital and growth equity funds, but it also makes direct investments and co-investments in digital health companies that align with its clinical priorities. Its direct activity concentrates on enterprise software, AI/ML diagnostics, and patient-engagement platforms where the system can serve as a pilot partner. Known co-investors include specialist funds like LRVHealth, reflecting a relationship-driven approach to venture exposure.

The health system uses its clinical operation as a diligence engine: technologies that show promise in a real-world, high-acuity, academic-medical environment get capital and organizational support. The system serves over two million patients annually across Greater Los Angeles, giving it a unique ability to stress-test startup products before investing further. This 'validator-investor' posture is what attracts co-investment from dedicated health-tech VCs and growth-equity funds.

Cedars-Sinai does not publicly report a consolidated AUM figure for its long-term investment pool. Public records from its defined-benefit pension and retiree health-benefit trust filings show several billion dollars in plan assets, which form part of the overall picture. The health system itself generates annual revenue exceeding $7.7 billion, creating a steady source of investable capital that flows into its endowment-style portfolio.

No. Cedars-Sinai Health System is a non-profit academic medical center, not a family office. Its investable assets come from retained operating surpluses — clinical revenue, research grants, and philanthropic gifts — rather than an individual family's wealth. The largest donor gifts, often eight- and nine-figure commitments from Los Angeles philanthropists, flow into restricted hospital endowments that supplement the system's capital base.

Cedars-Sinai targets enterprise software that improves hospital operations, AI/ML tools for diagnostics and clinical workflow, and digital health platforms that extend care delivery beyond the hospital walls. It also backs precision-medicine and genomics-enablement companies, consistent with its Tempus partnership. The system avoids therapeutics, medical-device hard-tech, and pure biotech plays, preferring capital-light, scalable, enterprise-health technology where it can act as a commercial partner.

The investment function is siloed inside a dedicated Investment Office, with portfolio assets held through the health system's corporate treasury and its affiliated retirement trusts. Clinical operations are run through Cedars-Sinai Medical Center, a fully licensed, non-profit hospital. Both report up through the CEO and board, but the investment team's mandate is to manage financial reserves for long-term return, not to subsidize hospital operations directly with venture allocations.