US investment giant Blackstone is opening an Israel office, which will be managed by Yifat Oron, who is stepping down after seven years as CEO of LeumiTech, which specializes in banking for high-tech companies. She has been appointed a senior managing director of Blackstone.
To date Blackstone has worked in Israel through former Israeli Ambassador to the UN Dan Gillerman, who has been Blackstone's senior advisor in Israel since 2013. Gillerman is to become the chairman of Blackstone Israel and will continue to serve as senior advisor to Oron and her team in Blackstone Israel's new opened Tel Aviv office. Before Leumitech, Oron served as a partner in the Vertex Israel venture capital fund.
Oron will lead the investments of Blackstone's BXG Growth Fund, which invests in technology companies in their more advanced stages. BXG recently closed a $4.5 billion fund and has begun investing in growth companies. Blackstone is one of the world's largest investment funds, managing assets worth $649 billion.
Blackstone chairman, CEO and founder Stephen Schwartzman said, "We are increasingly focused on investing in fast-growing sectors, such as technology, life sciences and the digital economy. Israel is one of the most promising markets in the world in these areas and Yifat is the perfect choice to scale our firm’s presence and investments there."
Blackstone Growth (BXG) global head Jon Korngold said, "We are big believers in Israel, which is one of the most dynamic and innovative markets in the world. I’m delighted to welcome Yifat, an outstanding technology executive and leader, to help us bring the full power of the Blackstone platform and our resources to the country’s entrepreneurs."
Oron said, "I’m thrilled to join Blackstone and lead the firm’s growth investments in Israel. The breadth of what Blackstone can deliver to entrepreneurs in terms of capital and operating expertise is truly world-class. I’m excited to help fast-growing companies in Israel become global leaders through Blackstone’s resources and global network."
Published by Globes, Israel business news - en.globes.co.il - on April 25, 2021
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