ֱMore Than Doubles Investment in Israel Bonds
ֱPresident Hasner announcing the purchase at the Israel Bonds Unity for Israel Reception
ֱ will more than double its investment in Israeli government-backed bonds, with the purchase of an additional $5 million for its investment funds. This latest asset makes Florida Atlantic the university with the largest Israel Bonds holdings in the world – a total investment of $8.2 million, up from $3.2 million held by the ֱFoundation.
This purchase mirrors recent moves by the state of Florida and Palm Beach County, the world’s largest local government investor in Israel Bonds. Revenue from these bonds will support the strategic goals of the university.
“This is a sound financial decision — but equally important, it is a statement of solidarity that reflects our vision for the future,” said Florida Atlantic President Adam Hasner. “As a leading university and a member of the South Florida community, we cannot ignore what is happening to Jewish students across the country, and we are proud of the steps we are taking to become the safest and most welcoming university for Jewish life in America.”
Hasner recently announced the bond purchase as a special guest at the Israel Bonds Unity for Israel Reception, where representatives of 14 local synagogues joined together with Israel Bonds Palm Beach to celebrate FAU’s increased investment.
“For over 35 years, I’ve had the privilege of representing Israel Bonds in working with ֱ,” said Mark Ruben, Palm Beach executive director of Israel Bonds. “Together with our local Jewish community, we’ve raised millions in Israel Bonds, purchased and donated to the university in support of the establishment of Holocaust and Judaic Studies Chairs. Under President Adam Hasner’s leadership, we’ve deepened this partnership even further, making ֱthe largest holder of Israel Bonds of any university in the world.”
The practice of universities investing in Israel Bonds is specifically authorized by Florida law. The $5 million increase follows a long history of investment in Israeli government-backed bonds through the ֱFoundation, which began with its original ongoing commitment of $3.2 million.
“The ֱFoundation’s longstanding investment in Israel Bonds has generated secure and reliable revenue to support the university for many years,” said David Kian, interim chief executive officer, ֱ Foundation, Inc. “The bonds have proven to be an important and durable component of our diversified portfolio.”
-FAU-
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