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Menora Mivtachim Pension & Provident
Menora Mivtachim Pension & Provident operates as the retirement-services division of Menora Mivtachim Holdings, a publicly traded Israeli insurance and...
Menora Mivtachim Pension & Provident
Menora Mivtachim Pension & Provident operates as the retirement-services division of Menora Mivtachim Holdings, a publicly traded Israeli insurance and financial group controlled by Tali Griffel and Niva Gurevitch through separate holding entities. The firm manages mandatory and voluntary pension funds for Israeli employers and employees, positioning it as a core accumulator of long-term domestic capital. Its parent traces roots to Menora Insurance, founded in 1935, giving the pension arm a multi-decade institutional lineage within Israel's concentrated financial sector. The pension arm deploys member contributions across a diversified asset mix centered on real estate, private equity, and private credit. Direct property investments form a material sleeve of the portfolio — confirmed holdings include Cirrus Point in Leeds, Rialto House in York, and Deansgate Tower in Manchester, all developed or acquired through a joint venture with Cain International. In Canada, the firm has assembled a multifamily residential portfolio in partnership with BST Group. Domestic real estate includes the Galilee Real Estate Project and the Menora Mivtachim House in Ramat Gan. For private equity exposure, the firm frequently co-invests alongside The Phoenix Holdings, another major Israeli institutional investor. This partnership-led, cross-border real-asset strategy distinguishes Menora from peers that rely more heavily on third-party fund commitments. Scale metrics for the pension division are not publicly disaggregated from the parent group, which reported consolidated assets under management of approximately ILS 330 billion in 2023 (public record). The firm's sprawling real estate book — spanning the UK, Canada, and Israel — indicates a meaningful allocation to direct and joint-venture property investments. The Menora Mivtachim Arena in Tel Aviv, a naming-rights asset, underscores the group's civic embeddedness. The Shahaf Foundation, a philanthropic vehicle tied to the group, operates separately from the pension division. Menora's structural differentiator lies in its hybrid deployment model: a multi-employer defined-contribution pension fund that behaves like a direct institutional real estate investor through repeated joint ventures with named operating partners. Rather than allocating solely to blind-pool real estate funds, Menora co-owns specific buildings and portfolios alongside developers like Cain International and BST Group. This co-investment posture — executed across three continents — provides the pension arm with asset-level control and fee savings that pure fund-of-funds allocators rarely achieve at comparable scale.
General information
Firm type
Pension Fund
Year founded
—
AUM
Undisclosed
Location
Region
Middle East
Country
Israel
City
Tel Aviv
Corporate office
Tel Aviv, Israel
Principals
Tali Griffel
Controlling Shareholder (via Palamas Establishment)
Niva Gurevitch
Controlling Shareholder (via Najaden Establishment)
Sector focus
Frequently asked questions
Who controls Menora Mivtachim Pension & Provident?
The firm is part of Menora Mivtachim Holdings, which is controlled by Tali Griffel through Palamas Establishment and Niva Gurevitch through Najaden Establishment. These holding structures make Griffel and Gurevitch the ultimate decision-makers for the group's strategic direction, including the pension division's asset allocation. The pension arm itself operates under Israel's regulatory framework for multi-employer defined-contribution plans.
How does the fund deploy capital into real estate?
Menora Mivtachim favors direct property investments and joint ventures over blind-pool fund commitments. In the UK, it partners with Cain International on commercial developments — confirmed projects include Cirrus Point in Leeds, Rialto House in York, and Deansgate Tower in Manchester. In Canada, it works with BST Group to assemble a multifamily residential portfolio, and it holds domestic assets including the Galilee Real Estate Project in Israel. This captive-coinvestment model gives the firm asset-level governance and fee advantages.
What is Menora's relationship with The Phoenix Holdings?
Menora Mivtachim and The Phoenix Holdings are frequent co-investment partners, particularly in real estate and private equity transactions within Israel and abroad. Both are major Israeli institutional investors that collaborate on direct deals rather than solely committing to third-party funds. This co-investment relationship is a structural feature of Menora's deployment approach — pooling capital with a like-minded domestic counterpart to access larger transactions.
Which geographies does the pension arm invest in?
The direct real estate portfolio spans the UK (Leeds, York, Manchester), Canada (multifamily residential via BST Group), and Israel (the Galilee project and the Menora Mivtachim House in Ramat Gan). Indirect allocations through funds and co-investments likely extend the geographic reach further, but confirmed named assets cluster in these three countries.
Is there a philanthropic structure tied to the group?
Yes — the Shahaf Foundation is a philanthropic entity connected to Menora Mivtachim Holdings. It operates separately from the pension division and does not co-mingle retirement assets with charitable activities. The foundation is listed in public records as a distinct vehicle, though its specific grant-making focus is not widely disclosed.
What is the fund's regulatory structure?
Menora Mivtachim Pension & Provident operates as a multi-employer defined-contribution pension manager under Israeli law. It pools mandatory and voluntary retirement contributions from Israeli employers and employees. The parent company, Menora Mivtachim Holdings, is publicly traded on the Tel Aviv Stock Exchange, subjecting both the insurance and pension divisions to Israeli insurance and pension regulatory oversight.
How does Menora source its real estate deal flow?
The firm sources real estate investments through long-standing operating partnerships rather than competitive auction processes. Its repeated joint ventures with Cain International in the UK and BST Group in Canada suggest relationship-based origination — developers bring projects to Menora as a trusted institutional co-investor. This pipeline integrates development expertise with patient pension capital, and the domestic Israel portfolio is likely sourced through local networks tied to the group's market presence.
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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