FIMI private equity fund raises $1.1 bln for Israel investments: Reuters

Feb 3 (Reuters) — Israel’s largest private equity firm, FIMI Opportunity Funds, raised $1.1 billion for a new investment fund, the largest amount ever raised by an Israeli investment fund, it said on Wednesday.

As with its five previous funds – which raised a total of $2.1 billion – FIMI said it brought investment from home and abroad.

“FIMI Fund 6 will continue the strategy of our other funds,” FIMI’s chief executive Ishay Davidi said. “The purpose is to strengthen Israeli companies and enable them to compete better in global markets.”
He said FIMI plans to invest $250 million annually in Israeli companies.

To date FIMI has bought control of 80 companies in Israel, of which 51 have since been sold in deals worth over $4 billion. Its holdings include Israeli paper maker Hadera Paper and Gilat Satellite Networks. (Reporting by Tova Cohen)