Noy Infrastructures and Energy Fund raises NIS 486m

Bank Hapoalim's Poalim Capital Markets and Nochi Dankner's Clal Insurance are behind the new fund.

Noy Infrastructures and Energy Fund today announced that it has raised NIS 486 million. The fund originally planned to raise $110 million.

Former Africa-Israel CEO Pinchas Cohen heads Noy. Bank Hapoalim (TASE: POLI) unit Poalim Capital Markets - Investment Bank Ltd. and IDB Holding Corp. Ltd. (TASE:IDBH) unit Clal Insurance Enterprises Holdings Ltd. (TASE: CLIS) launched the fund in February.

The Noy Fund plans to invest in 10-15 transportation, desalination, water, energy, and renewable energy projects. It has already begun examining in all of these fields.

Published by Globes [online], Israel business news - www.globes-online.com - on May 1, 2011

© Copyright of Globes Publisher Itonut (1983) Ltd. 2011

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