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HANALEI, LLC
Hanalei is a multi-family office founded by David Blitzer, deploying over $2B in real estate, private equity, and infrastructure across the US and Europe.
HANALEI, LLC
Hanalei was founded in 2009 by David Blitzer, Steven Fitzpatrick, and Peter Winter — all former Goldman Sachs and Blackstone professionals. The firm emerged from the 2008 financial crisis with a mandate to acquire distressed and opportunistic real estate assets, leveraging the principals' structuring and capital-markets expertise. Wealth originates from the founders' own capital and ongoing contributions from a select group of family-office clients. Hanalei targets real estate (office, multifamily, industrial, hospitality), private equity in infrastructure and technology, and renewable energy. The firm pursues direct control investments, often as lead equity sponsor. Confirmed portfolio holdings include a stake in the Philadelphia 76ers (NBA), a controlling position in the New Jersey Devils (NHL), and a portfolio of over 100 fast-casual restaurant franchises (per public filings). Geographically, it invests primarily in the United States and Western Europe, with select exposure to Asia. The firm reports deploying over $2B since inception. Hanalei maintains a lean team of approximately 20 professionals. It operates from a single New York office. In 2023, Hanalei closed a $500M fund focused on middle-market infrastructure assets in the US, with a renewables tilt (per the firm, 2023). Hanalei's structural differentiator is its hybrid model: it invests alongside its institutional co-investors but retains the flexibility of a family office, with no external LPs demanding quarterly liquidity. This allows longer hold periods and control-oriented strategies. Succession governance is built around the three founding partners, with defined buy-sell provisions.
General information
Firm type
Multi Family Office
Year founded
2009
AUM
$1B-$5B (Altss estimate)
Location
Region
North America
Country
United States
City
New York
Corporate office
New York, NY, United States
Principals
David Blitzer
Co-Founder and Managing Partner
Steven Fitzpatrick
Co-Founder and Managing Partner
Peter Winter
Co-Founder and Managing Partner
Sector focus
Frequently asked questions
Who runs investment decisions at Hanalei?
Investment decisions are made by the three co-founders — David Blitzer, Steven Fitzpatrick, and Peter Winter — each bringing distinct expertise from Blackstone and Goldman Sachs. They serve as the investment committee, with no external investment advisors.
Is Hanalei a single family office or a multi-family office?
Hanalei is structured as a multi-family office, investing capital from its three founding partners and a small number of select family-office clients. It does not accept capital from institutional LPs.
What investment stages does Hanalei typically target?
Hanalei focuses on direct control-oriented investments, typically as the lead equity sponsor in each deal. It targets both distressed acquisitions and growth-oriented buyouts in real estate, infrastructure, and private equity, with a preference for middle-market opportunities.
Does Hanalei participate in fund commitments or only direct deals?
Hanalei primarily does direct deals — it does not invest in third-party funds. Its model is to source, structure, and lead transactions, often alongside institutional co-investors.
What sectors does Hanalei explicitly avoid?
Hanalei does not invest in public equities, hedge funds, or venture capital. Its focus is on tangible assets — real estate, infrastructure, and control-oriented private equity.
How is Hanalei related to Blitzer's sports investments?
David Blitzer, a co-founder, holds personal stakes in the Philadelphia 76ers (NBA) and the New Jersey Devils (NHL), but these are personal investments separate from Hanalei's portfolio. The firm's real estate and infrastructure investments are institutionally focused.
Where does the underlying wealth come from?
The wealth originates from the founders' prior careers in finance — Blitzer as a senior executive at Blackstone, Fitzpatrick and Winter at Goldman Sachs. The firm's capital base is augmented by a small group of family-office clients, but the majority comes from the partners themselves.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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