Noy to raise continuation fund

Noy Infrastucture and Energy Investment Fund will raise up to NIS 1 billion from financial institutions.

Sources inform "Globes" that the Noy Infrastucture and Energy Investment Fund seeks to raise a continuation fund of a similar size to its first fund, NIS 850 million, or even larger, up to NIS 1 billion.

According to the sources, the heads of the fund recently met several managers of financial institutions, but have not yet reached the investment committee stage.

The Noy fund, headed by chairman Pinchas (Pini) Cohen and managing partners Ran Shelach and Gil-Ad Boshwitz, started operating in May 2011, and raised NIS 850 million in three tranches from institutional investors for investment in energy and infrastructure projects. The anchor investors in the fund are Poalim Capital Markets and Clal Insurance, joined by, among others, Psagot, Meitav Dash, Phoenix, Menorah Mivtachim, and Infinity. Several of the institutions that invested in the first fund will probably also invest in the continuation fund.

Published by Globes [online], Israel business news - - on June 12, 2014

© Copyright of Globes Publisher Itonut (1983) Ltd. 2013

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