The Jewish Federation of Greater Los Angeles

The Investment Committee, co-chaired by William R. Feiler and Cathy Siegel Weiss, governs asset allocation and manager selection. Feiler previously served as a managing director at Bel Air Investment Advisors, bringing multi-family office and institutional consulting experience to the committee. The committee reports to the Federation's board of directors, chaired by Daniel Gryczman as of 2026. Day-to-day treasury and manager relations functions are executed by internal staff under CEO Rabbi Noah Farkas.

The Federation functions less like a university endowment and more like a community foundation with an institutional investment program. Annual grant-making to over 100 partner agencies creates distinct liquidity needs that private-equity-heavy allocations must accommodate. The Federation also owns commercial real estate directly — including its Wilshire Boulevard headquarters — which generates operating income and sits as a hard asset on the balance sheet, a configuration uncommon among peer Jewish federations.

The investment program centers on institutional fund commitments, primarily to buyout managers, consistent with the 'Buyout' strategy tags identified in portfolio reporting. The Federation also holds direct real estate, infrastructure investments, and a digital asset portfolio. There is no public evidence of regular direct-company co-investment or venture-stage activity. The Investment Committee's documented relationship with Bel Air Investment Advisors' alumni suggests a manager-selection model built on intermediary diligence.

The two entities are legally distinct but operationally intertwined. The Jewish Community Foundation, chaired by Mark Schwartz, manages long-horizon donor-advised funds and trusts — a complementary function to the Federation's annual-campaign and endowment grant-making. Federation donors frequently utilize the Foundation for planned giving and complex asset contributions, while the Federation directs current-use charitable dollars. Together they represent the largest concentration of Jewish philanthropic capital on the West Coast.

The endowment corpus is built from multi-generational bequests, donor-advised fund accumulations, and annual campaign surpluses reinvested over decades. Los Angeles's concentration of Jewish wealth — rooted in real estate, entertainment, and professional services — has produced a donor base capable of funding a perpetual capital pool. The Federation does not derive its investment assets from a single family's liquidity event, distinguishing it from single-family office comparables in the region.

There is no publicly documented co-investment program. The Federation's investment profile favors commingled fund commitments rather than side-by-side direct co-investment with general partners. The direct real estate holdings are wholly owned operating assets — the headquarters at 6505 Wilshire Boulevard and a residential property on North Mansfield Avenue — rather than co-investment vehicles. This conservative posture is consistent with many endowment-style allocators that lack dedicated co-investment underwriting teams.

The owned office properties reduce the Federation's operating overhead by eliminating lease expense, thereby directing a higher percentage of donor dollars to programmatic grant-making. The 6505 Wilshire Boulevard headquarters also houses multiple partner agencies, creating a hub-and-spoke service delivery model. The Woodland Hills satellite extends this logic into the San Fernando Valley. Revenue from third-party commercial tenants further subsidizes Federation operations.