Portland Trust
The Portland Trust is a British non-profit organisation whose mission is said to be ‘to promote peace and stability between Israelis and Palestinians through economic development.’[1]
It was founded in London in 2003 by Sir Ronald Cohen, co-founder and former Chairman of the private equity firm Apax Partners, together with Sir Harry Solomon, co-founder and former chairman and CEO of Hillsdown Holdings. The trust has offices in London, Tel Aviv and Ramallah.
Contents
Affiliations
- Herzliya Conference (February 2009) - Sir Ronald Cohen attended as a participant, chairing a panel on 'Jumpstarting the Israeli-Palestinian Process: Economic Initiatives and Political Derivatives'. [2]
People
Trustees
- Sir Ronald Cohen, co-founder. Sir Ronald Cohen (born 1945) is an Egyptian-born British businessman. In 1957, in the aftermath of the Suez War, Cohen fled with his family from Egypt to the UK as part of the exodus of Jewish refugees. He is reportedly worth around £250 million.[3] He is the Chairman of Big Society Capital, Founder Chairman of The Portland Trust (2003-) and Bridges Ventures (2002-2012); Founder Director of Social Finance Ltd (2007-2011) and Social Finance USA (2010-). In January 2005, Cohen became a Director of the British Museum. Cohen is also a member of the executive committee of the London based International Institute of Strategic Studies, a right-wing and neoconservative think tank.[4] In 1972 Cohenhe founded Apax Partners, one of Britain's first and biggest venture capital firms. Apax has invested more than $2 billion in Israel with Bezeq Israeli Telecommunication Co. Ltd. (TASE: BEZQ) and Tnuva Food Industries Ltd. being two of the biggest and best known investments.[5] In 1974 Cohen stood as the parliamentary candidate for the Liberal Party in Kensington North, and in 1979 he stood as its European candidate in London West. In 1996 he switched allegiance to the Labour Party, becoming a supporter of Tony Blair. In 2004, Cohen was the Labour Party's fourth largest financial supporter, after Lord Sainsbury, Sir Christopher Ondaatje and Lord Hamlyn. According to Robert Peston, Cohen has contributed £1.8m to the Labour Party.[6] The Guardian reported that in 2006 Cohen ‘started to take over the role of government [Middle East] emissary from Lord Levy by meeting Israeli leaders, including the prime minister, Ehud Olmert’.[7] About his connections to Israel, Cohen told the Times: ‘If you look at my history: born in Egypt, a refugee, married to the daughter of the commander of the Exodus who's an Israeli, there's an obvious connection between me and the region.’[8]
Cohen says he is a believer in two state solution for Israel and Palestine. In regards to the Portland Trust’s activities he claimed:
- ‘I won't be involved in the settlements, and I think that our great challenge is not the 300,000 to 400,000 people who live beyond the Green Line, but the seven million people who live within it, a quarter of whom live below the poverty line and many of whom suffer from severe social problems, such as chronic unemployment, dropping out of school, and so forth. Personally, I want to support residents within the Green Line, and through the Portland Trust, Palestinians who reside beyond it.’::[9]
- Sir Harry Solomon, co-founder and former chairman and CEO of Hillsdown Holdings
- Lord David Freud, former CEO of The Portland Trust between 2005-2008 after retiring as Vice Chairman from UBS Investment Banking, remains a Trustee and Director. Appointed UK Minister for Welfare and Reform in May 2010.[10]
- Sir Martin Gilbert - historian
Staff
Four of the trust's 15 staff are employed in the UK, with six in Ramallah and four in Tel Aviv.[11]
- Nicola Cobbold - managing director
- Brig Gen Eival Gilady - managing director of The Portland Trust's Tel Aviv office (opened June 2005)
- Samir Hulileh - chairman of the Trust's Ramallah office[12]
- David Meidan - Director of Regional Co-operation in Tel Aviv.[13]
Funding
The Trust is registered as a charity in England and Wales (charity no 1106429). It received income of £1,555,098 and spent £1.57 million in charitable spending in the year ending December 2009. [14]
Grants
- The R and S Cohen Foundation - £938,000 in 2009, £765,000 in 2008
- The Heathside Charitable Trust - £150,000 in 2009, £150,000 in 2008
- Lord David Freud donated his time as CEO in 2008, for which a value of £150,000 was included in the accounts for that year. [15]
Publications
Contact
- Address:
- Phone:
- Email:
- Website:
Resources
Notes
- ↑ The Portland Trust,Homepage, accessed 20 October 2010.
- ↑ Institute for Policy and Strategy Ninth Herzliya Conference on the Balance of Israel’s National Security: Executive Summary February 2-4, 2009, Accessed 20 October 2010
- ↑ Institutional Investor, http://www.institutionalinvestor.com/Popups/PrintArticle.aspx?ArticleID=1423897 accessed 1 March
- ↑ Ronald Cohen,http://www.ronaldcohen.net/about accessed 1 March 2014
- ↑ Shahar Smooha and Shlomit Lann, ‘Riding to the Rescue of Israel’s Third Sector’, http://www.globes.co.il/en/article-1000856340, 24 June 2013, Globes, accessed 1 March 2014
- ↑ Robert Peston, Who Runs Britain?, Hodder and Stoughton, 2008
- ↑ ‘Sir Ronald Cohen: Financier who is hoping for a peace dividend,’ The Guardian, July 7, 2006
- ↑ http://www.bollyn.com/who-really-controls-our-political-parties#sthash.ozRphSDA.dpuf accessed 1 March 2014
- ↑ Shahar Smooha and Shlomit Lann, ‘Riding to the Rescue of Israel’s Third Sector’, http://www.globes.co.il/en/article-1000856340, 24 June 2013, Globes, accessed 1 March 2014
- ↑ David Freud, David Freud Biography, The Conservatives, accessed 16-October-2010
- ↑ Charity Commission, The Portland Trust, accessed 20 October 2010.
- ↑ The Portland Trust, About us, accessed 20 October 2010.
- ↑ Senior management, The Portland Trust, accessed 27 March 2013.
- ↑ Charity Commission, The Portland Trust, accessed 20 October 2010.
- ↑ Charity Commission, The Portland Trust Accounts 2009, accessed 20 October 2010.
