The investment is according to an NIS 25 million ($5.9 million) Evergreen company value.
Bank Hapoalim has invested NIS 5 million ($1.2 million) for a 20% stake in portfolio management company Evergreen Investments, on company value of NIS 25 million ($5.9 million). Evergreen manages portfolios and mutual funds with a value of NIS 800 million ($188 million).
The company is managed by Gabi Pearl. Bank Hapoalim's investment is meant put him in contact with a private entity, currently owned by the Evergreen group: Jacob Burak, Ofer Neeman, and Toyota importer George Horesh. Bank Hapoalim has a portfolio management company called Peilim. According to a source in the bank, the investment is intended to put the bank in contact with a variety of clients currently less accessible to it.
Published by Israel's Business Arena on November 9, 1999