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Migdal Makefet Pension and Provident Fund
Migdal Makefet Pension and Provident Fund was founded in 1995 and consolidated under Migdal Insurance Company in 2004, absorbing the group's pension,...
Migdal Makefet Pension and Provident Fund
Migdal Makefet Pension and Provident Fund was founded in 1995 and consolidated under Migdal Insurance Company in 2004, absorbing the group's pension, provident, and advanced study funds. The entity serves as the management company for all such savings vehicles within the Migdal Group, which is controlled by founder Shlomo Eliyahu and listed on the Tel Aviv Stock Exchange's TA-35 Index. The fund deploys capital across commercial real estate, renewable-energy infrastructure, and global private-market commitments. Its disclosed portfolio includes the New York Times Tower in Manhattan, 353 Sacramento Street in San Francisco, the Ramat Aviv Mall in Tel Aviv, and a mixed-use Israeli real estate portfolio. Beyond direct property, it commits to institutional vehicles such as Copenhagen Infrastructure Partners IV and the AMUNDI PLANET Fund, blending domestic hard-asset concentration with co-investment alongside European infrastructure and climate-aligned managers. Investment leadership falls under Israel Eliyahu, who serves as both a director of Migdal Group and its chief investment officer. The fund maintains a strategic partnership with Doral Group for renewable-energy investments in Israel. In February 2026, the firm published a settlement notice for a class action (T.C. 24167-07-14), reflecting ongoing governance procedures typical of a publicly traded, regulation-heavy savings institution. Structurally, Migdal Makefet operates inside a listed insurance conglomerate, meaning its asset-liability management and regulatory posture are shaped by Solvency II-style Israeli insurance law rather than a standalone pension board. This hybrid governance — combining a publicly traded parent, a founding-family-controlled holding company, and a mandatory-savings mandate — creates a distinctive tension between quarterly reporting obligations and multi-decade pension liabilities.
General information
Firm type
Pension Fund
Year founded
1995
Location
Region
Middle East
Country
Israel
City
Tel Aviv
Corporate office
Tel Aviv, Israel
Principals
Shlomo Eliyahu
Controlling shareholder of Migdal Holdings
Israel Eliyahu
Director and CIO of Migdal Group
Sector focus
Frequently asked questions
Who runs investment decisions at Migdal Makefet?
Israel Eliyahu serves as the Director and Chief Investment Officer of Migdal Group, which includes Migdal Makefet. The controlling shareholder is Shlomo Eliyahu, who founded the broader Migdal insurance enterprise. Day-to-day asset allocation and manager selection are executed under the group's CIO structure, which consolidates investment authority across the listed entity's insurance and pension mandates.
How is Migdal Makefet structured relative to Migdal Insurance?
Migdal Makefet is a wholly managed subsidiary of Migdal Insurance Company Ltd., acquired in 2004 to consolidate all pension, provident, and advanced study funds under one licensed management company. The parent is publicly traded on the Tel Aviv Stock Exchange (TA-35 Index), while ultimate control sits with the Eliyahu family's holding entity. This creates a publicly listed, family-controlled structure uncommon among peer Israeli pension funds.
How does Migdal Makefet source real estate deals?
The fund invests directly in commercial properties and through institutional partnerships. Disclosed holdings include the New York Times Tower, 353 Sacramento Street in San Francisco, Ramat Aviv Mall, and a mixed-use Israeli portfolio. It co-invests with Copenhagen Infrastructure Partners and the AMUNDI PLANET Fund for global infrastructure and energy-transition mandates, indicating a hybrid model of direct property selection combined with external manager commitments.
What is Migdal Makefet's posture on renewable energy?
Renewable energy appears as a defined strategic allocation, executed through a partnership with Doral Group for domestic Israeli projects and a commitment to Copenhagen Infrastructure Partners IV for European greenfield infrastructure. The AMUNDI PLANET Fund commitment further signals a public-markets oriented overlay for energy-transition exposure.
Does Migdal Makefet invest outside Israel?
Yes. The fund holds U.S. commercial real estate in San Francisco and New York, a commitment to a European infrastructure fund managed by Copenhagen Infrastructure Partners, and a global mandate through the AMUNDI PLANET Fund. This international sleeve diversifies the predominantly Israeli domestic real estate and fixed-income portfolio that anchors its pension liabilities.
How does the publicly traded parent affect Migdal Makefet's governance?
As part of a TA-35 listed insurance group, Migdal Makefet must publish financial statements, hold shareholder votes, and disclose related-party transactions quarterly. This imposes transparency requirements that exceed those of standalone Israeli pension funds. The class-action settlement published in February 2026 reflects this heightened regulatory and public-reporting footprint.
What philanthropic structures are associated with Migdal?
The Migdal Community Investment Fund and Sapirim Lirvava are two philanthropic entities linked to the group. They operate separately from the pension fund's fiduciary assets, consistent with Israeli regulatory separation requirements for pension savings.
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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