The company also plans to export its financial products within a few months.
Migdal Capital Markets Ltd. is tightening its collaboration with Bear Stearns (NYSE:BSC), which owns half of the company. Migdal Capital Markets will raise $20 million from Israeli institutional investors for a new $200 million fund, Bspel, that Bear Stearns is raising.
Bspel will invest in private equity funds. The fund will comprise 50 different funds with varied investment policies. Bspel will be listed for trading on the London Stock Exchange, which will give liquidity to its investors, in contrast to investments in regular private equity funds.
Bear Stearns and Migdal Capital Markets plan to further expand their collaboration, including the sale of the latter’s financial products internationally. There are regulatory obstacles to this plan at the moment, but the company believes that they will be dealt with, and that it will be able to export its products within a few months.
Published by Globes [online], Israel business news - www.globes.co.il - on April 26, 2007
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