Israel's Biggest Buyout Firm Raises Record $1.1 Billion

Fimi Opportunity Funds said it raised $1.1 billion in the largest funding round of an Israeli private equity firm.

The country’s biggest buyout company will allocate the money to a new fund dedicated to investing in local businesses, according to an e-mailed statement. Investor demand was for $2 billion. FIMI plans to invest about $250 million in Israeli companies per year.

"Demand came from Israeli and foreign investors at a challenging time for Israeli and international economies," Chief Executive Officer Ishay Davidi said in the statement. "The size of funding underscores the vote of confidence investors have in FIMI’s investment and improvement model."

The funding round comes fresh off a year that saw the number of Israeli private equity deals rising 13 percent to reach a total of $3.4 billion, IVC Research Center data shows. Established in 1996, the company has bought control of about 80 Israeli companies that export abroad. The latest funding round increases FIMI’s total capital raised to $3.2 billion.

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