Israeli private equity fund FIMI Opportunity Funds has closed its $1.2 billion FIMI 7 fund. There was demand of over $2 billion for what is the largest ever investment fund raised in Israel. FIMI, led by founder and CEO Ishay Davidi, now has funds totaling $4.5 billion.
The FIMI 7 fund will continue the strategy of the previous funds, which is to invest in and enhance the value of Israeli companies over the long-term. The FIMI 7 fund includes a leader investor from the United Arab Emirates (UAE).
Davidi said, "In the midst of the coronavirus crisis in a very challenging period for the Israeli and global economy, we have succeeded in raising the amount that we set for ourselves, with record demand from both Israel and foreign investors."
He added, "The scale of the capital raised stresses the vote of confidence of investors in the fund. I want to thank our existing and new investors in the FIMI 7 fund."
"We see major importance in strengthening Israeli industry, and we will continue to strengthen and help companies to grow, to develop and to excel in the Israeli and global markets. I believe that the major knowhow and experience that we bring to the partnerships between the fund and companies will contribute to achieving the targets we have set of continuing to lead the Israeli market and create value for our investors."
Founded in 1996, FIMI Opportunity Funds have assets under management worth $5.5 billion. The funds are consistently ranked in the world's top ten investment funds for the highest returns earned for its investors.
To date FIMI has acquired control of 93 companies and sold its stake in 63 of them in deals worth more than $5.5 billion. FIMI is the largest industrial body in the Israeli economy and one of the biggest employers in the country. Companies controlled by FIMI have more than 30,000 employees in 50 factories around Israel and another 100 factories and companies worldwide.
Published by Globes, Israel business news - en.globes.co.il - on December 9, 2020
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