Charles & Agnes Kazarian Eternal Foundation

Charles & Agnes Kazarian Eternal Foundation

Paul B. Kazarian founded the Charles & Agnes Kazarian Eternal Foundation in 1993, naming it for his grandparents and funding it entirely through affiliates of Japonica Partners, the investment firm he built. Japonica made its name executing complex turnarounds, including the buyout of Allegheny International backed by co-investors Michael Steinhardt and Michael Price in the late 1980s, and later accumulated a significant position in Greek government bonds. The foundation exists as the primary vehicle for Kazarian's sustained, idiosyncratic campaign around what he terms the Citizens' Wealth Framework. Rather than following a conventional grantmaking or market-investing model, the foundation operates as a policy intervention engine. Its capital supports the development and promotion of tools that measure Government Total Balance Sheet (GTBS) literacy, a proprietary analytic lens for evaluating sovereign fiscal health. The foundation's portfolio is unconventional, holding a known Greek Government Bond position that looks more like a hedge-fund book than an endowment allocation and funding documentary and educational divisions like Khachkar Studios and JI-Analytics. The geographic focus extends from Washington, DC and Lisbon to active engagement on the United Nations' Millennium Development Goals. No formal team headcount is published. The enterprise runs through Kazarian's tight-knit network, with operations spread across a cluster of owned offices: a headquarters on K Street in DC, commercial space at 745 Fifth Avenue in New York, an office in North Kingstown, Rhode Island, and a Lisbon base on Rua Alexandre Herculano. Kazarian himself serves as an Adjunct Professor at Columbia Business School, sits on the Council on Foreign Relations, and is involved with the American India Foundation. The foundation's structure is its differentiator. It is a private operating foundation, not a grantmaker, carrying out its own activities — producing technical frameworks, media, and financial analysis — directly. This architecture lets Kazarian run a policy-influence mandate with the operational agility of a family office, free from the redemption pressure and LP reporting constraints that define traditional asset managers. Entirely self-funded through Japonica Partners, the foundation does not solicit donations, giving it unlimited patience to press its thesis on sovereign balance-sheet accountability.