# Menora Mivtachim Group

Menora Mivtachim Group is an Insurance based in Tel Aviv, Israel.

## Overview

- **Organization type:** Insurance
- **Headquarters:** Tel Aviv, Israel
- **Region:** Middle East
- **Address:** Tel Aviv, Israel
- **Founded:** 1935
- **Assets under management:** Undisclosed
- **Website:** menoramivt.co.il
- **LinkedIn:** https://il.linkedin.com/company/menora

## Regulatory record

- **Reports private funds:** No

## About

Menora Mivtachim Group is an insurance and financial group in Israel, focusing on asset management and various insurance products.

## Sectors

- Real Estate
- Energy Transition & Renewables
- Infrastructure

## People

- Eran Griffel — Chairman, Menora Mivtachim Holdings Ltd.
- Ari Kalman — CEO, Menora Mivtachim Holdings Ltd.

## Questions

### Who controls investment decisions at Menora Mivtachim?

Strategic investment decisions run through the holding company's chairman Eran Griffel and CEO Ari Kalman. The ultimate controlling influence sits with the Gurevich family trust, whose beneficiaries include Tali Griffel and Niva Gurevitch. The dual-layered governance — professional management under a family trust — has been in place since the family consolidated control in 1963.

### Does Menora invest directly in real estate or through funds?

Menora invests directly and owns the assets outright. Its real-estate book includes 450 Park Avenue in New York, the Maryland Development Project, and the Katzrin Housing Project in the Golan Heights. The firm does not appear to route capital through third-party fund commitments for its property holdings, operating instead as a principal investor.

### What is the firm's exposure to renewable energy?

Menora holds a direct European Renewable Energy Portfolio spanning Italy, Greece, and other OECD countries. It also controls the Naama Solar Project in the Jordan Valley. These are operational, direct-equity positions, not fund investments, reflecting an active infrastructure-ownership approach rather than passive allocation.

### How is Menora Mivtachim structured relative to the Gurevich family?

The Gurevich family controls Menora through a trust structure that dates to 1963. Chairman Eran Griffel is a family-linked business partner, while CEO Ari Kalman is the son-in-law of former owner David Hirschfeld. The insurance and asset-management businesses operate under the holding company, with family influence exercised through the trust rather than direct daily management.

### Where does Menora's underlying capital come from?

The capital base consists of Israeli pension and insurance liabilities — long-duration policyholder funds invested across real assets and public markets. The controlling economic interest sits with the Gurevich family trust, which has held influence since 1963 and passes beneficial ownership to Tali Griffel and Niva Gurevitch.

## Related profiles

- [Memphis Light, Gas & Water Division Pension System (MLGW)](https://altss.com/profile/memphis-light-gas-water-division-pension-system-mlgw)
- [Menora Mivtachim Pension & Provident](https://altss.com/profile/menora-mivtachim-pension-provident)

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Last updated: 2026-05-30T17:24:42.718Z

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