Frank Lowy launches Tel Aviv University institute

The Institute for National Strategy and Policy is the Australian billionaire's first substantial investment in Israel.

Australian shopping malls mogul Frank Lowy announced his first substantial investment in Israel today - the foundation of an Institute for National Strategy and Policy at Tel Aviv University.

"This is not a public relations gimmick, but a body with content behind what it does," said Lowy, who is rated Australia's second richest person, with a net worth estimated at $3.8 billion.

Besides setting up the institute, the Lowy family is about to break into the Israel capital market through a family investment fund. Frank Lowy's son David set up ION Asset Management with Stephen Levey and Jonathan Half, both formerly with UBS. As far as is known, the fund will invest in public companies.

Published by Globes [online], Israel business news - www.globes.co.il - on May 29, 2006

© Copyright of Globes Publisher Itonut (1983) Ltd. 2006

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