# Israeli Teachers and Kindergarten Study Funds

Israeli Teachers and Kindergarten Study Funds is a Pension Fund based in Israel.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Israel
- **Region:** Middle East
- **Assets under management:** Undisclosed

## Regulatory record

- **Reports private funds:** No

## About

The fund operates as a statutory pension vehicle under joint oversight of the Histadrut HaMorim (Israel Teachers Union) and the State of Israel, each appointing directors to its managing board. It was established to administer pension and advanced-study benefits for teachers and kindergarten staff, drawing contributions from public-education payrolls across the country. Chairman Eyal Gabai provides leadership continuity at the board level. The investment strategy blends traditional fixed-income allocations with direct and co-investment exposure to Israeli real assets and life-science ventures. Its real-estate activity flows through the Timora Real Estate Fund portfolio, which holds mixed-use properties across Israel. In healthcare, the fund partners with the Hebrew University of Jerusalem via its technology-transfer arm Yissum and the Integra Holdings vehicle — a life-science investment platform where Temasek Holdings is a co-investor. The fund therefore operates with a dual posture: conservative pension-liability management overlaid with a targeted direct-investment sleeve in Israeli innovation. The fund's governance reflects its union-state partnership. Directors appointed by the teachers' union sit alongside those named by the government, creating a committee structure that must reconcile fiduciary return objectives with the social mission of serving public educators. Adjacent vehicles include the Timora real-estate portfolio and the Integra Holdings commitment, giving the fund a modest but concentrated set of specialized investment subsidiaries. Structurally, the fund is distinct among Israeli institutional investors because its mandate explicitly couples retirement-benefit provision with advanced-study funding — a dual purpose embedded in its founding charter. This shapes asset allocation by requiring steady liquidity to meet study-grant disbursements while still pursuing long-term return targets. The union-state governance architecture further differentiates it from fully independent pension funds, embedding labor-relations and public-policy considerations directly into investment-committee decisions.

## Sectors

- Real Estate
- Healthcare Services

## People

- Pesach Landsberg — CEO and Secretary of the Board
- Eyal Gabai — Chairman of the Board

## Questions

### How is the fund governed, and what role does the teachers' union play?

The Histadrut HaMorim is a primary stakeholder and appoints members to the fund's board of directors alongside representatives named by the State of Israel. This joint oversight model means the union directly influences investment policy and benefit administration rather than operating at arm's length.

### What is the fund's real-estate investment vehicle?

The fund invests in Israeli real estate through the Timora Real Estate Fund portfolio, which holds mixed-use properties across the country. This direct real-asset exposure sits alongside the fund's more traditional fixed-income and alternative-investment allocations.

### What distinguishes this fund's mandate from other Israeli pension funds?

Its founding charter explicitly couples retirement-benefit provision with advanced-study funding for teachers. This dual purpose requires the fund to manage liquidity for regular study-grant disbursements while pursuing long-term returns — a constraint that shapes its asset-allocation framework differently from single-mandate pension funds.

## Related profiles

- [ISP](https://altss.com/profile/isp-pensionskassen-for-teknikum-og-diplomingeni-rer)
- [ISSELHORSTER Insurance](https://altss.com/profile/isselhorster-insurance)

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Last updated: 2026-06-03T20:00:00.000Z

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