Rick Caruso launched a foundation to aid rebuilding efforts after the Palisades and Eaton fires.

A number of heavy hitters are already involved at the foundation, Steadfast LA, including Gensler Global co-Chair Andy Cohen, Parsons President Carey Smith, CBRE Advisory Services President Lew Horne, along with real estate, banking, insurance and private equity executives, the Los Angeles Times reports.

The foundation is "a bold nonprofit coalition of private sector leadership to drive the city’s rebuild and transformation in response to the LA wildfires displacing tens of thousands," according to an Instagram announcement about the foundation.

Caruso was critical of the response to the Palisades fire and Mayor Karen Bass, against whom he campaigned for mayor in 2022. But he said the initiative was not about politics and that he plans to work with government agencies overseeing both areas.

Caruso told the LA Times that rebuilding after these fires is an undertaking that is “way too big for the government alone."

He anticipates his team could be helpful in speeding up the issuance of residential permits, and he is looking into artificial intelligence to see if that might be a way to accelerate the process. He also suggested that the foundation could use its industry sway to resolve supply chain issues and accelerate the availability of construction materials.

“I wanted to bring together some of the smartest people in different fields and literally roll up our sleeves, get our hands dirty,” Caruso said.

Caruso and the organization will also campaign for modernizing infrastructure in the rebuilding process, such as putting power lines underground and replacing aging water mains, for example.

“We shouldn’t go back to old systems," Caruso said. "You’ve got to have the backbone of these areas be in the 21st century."

Caruso has said that he will be the sole funder for this organization, and he plans to spend "millions" of his own funds. Caruso's family lost three homes in the fires, including two in the Palisades and one in Malibu.

The foundation will be run by Najla Kayyem, former executive vice president of marketing at mall owner Pacific Retail Capital Partners and a former executive at  Caruso's firm.