Council on Foreign Relations (CFR)

Council on Foreign Relations (CFR)

The Council on Foreign Relations was founded in 1921 and maintains its primary headquarters at the Harold Pratt House in New York. Michael Froman leads day-to-day operations while David M. Rubenstein chairs the board. The endowment supports the David Rockefeller Studies Program and publication of Foreign Affairs magazine. The endowment holds a 22 percent allocation to private equity alongside positions in growth-oriented hedge funds, diversifiers and private hard assets. Geographic exposure spans North America and global markets through limited partnership vehicles. Confirmed holdings categories include timber and natural resources. No direct co-investments or named portfolio companies appear in available records. The Washington office at 1777 F Street provides additional event and conference capacity. Employee count stands at 500 across both offices. The organization maintains the CFR Corporate Program with over 250 corporate members and the Century Society for major individual donors. A 2024 Council of Councils Annual Conference in Washington featured CFR participation on global governance topics. Grant Thornton serves as auditor and Arnold & Porter provides legal counsel. The endowment operates through a dedicated investment committee chaired by Stephen Freidheim. Governance separates the think tank mandate from asset allocation decisions executed via external managers. This structure channels returns directly into program funding rather than external distributions.