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ZEP Fund Content

Fund Structure and Leadership

Present Structure

The ZEP Fund is presently incorporated as an Israeli limited liability company with Reichman University as its sole shareholder. It is managed by a nominal CEO and board of directors that consists of two RUNI executives (RUNI CEO and CFO) and two Zell program representatives (the academic director and chairperson of the program). Investment decisions are made by the Investment Committee (IC) which is comprised of the academic director, the executive director, the chairperson of the program, a rotating alumni representative and the CFO of Reichman University.

Proposed Structure

The shares in ZEP Fund Ltd. would be transferred to either of, the Zell Entrepreneurship Foundation, the donor advised fund where the monies of the Zell Program endowment will be managed or a trusteeship created for the purpose (i.e Dr. Ayal Shenhav, Gross law firm). The limited liability company will continue to manage the investment activities, as its GP, and but would be open to raising a fund or series of funds with additional investors as limited partners. The carried interest (20-30%) from these investment returns would be allocated such that 10% would be allocated to RUNI scholarships and the remainder to program activities designated by the GP.

Fund Leadership

The ZEP Fund would continue to be managed by a CEO and board of directors. The new board of directors could include a Zell Entrepreneurship Foundation appointee, the chairperson of the program, its academic director, the executive director of the program and an investment industry leader. The investment committee would consist of the executive director of the program, the chairperson, academic director, and two alumni professional investors in rotating positions. An advisory committee of syndicate investors would be chosen on a rotating basis to help evaluate deals.
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