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by Joshua Levitt
The Blackstone Group LP.
The Blackstone Group LP private equity investor is studying several large deals in Israel and may consider opening an office in the Jewish state, Financial News reported on Monday.
The newspaper cited Blackstone Senior Adviser and former Israeli ambassador to the United Nations Dan Gillerman, speaking on the sidelines of the Israel Private Equity Opportunity Summit, in London, last week, as saying, “Eventually, I believe, we will open an office in Israel.”
Gillerman said the U.S. alternatives manager was looking at some “very interesting” opportunities in Israel, although the firm has yet to close their first deal, “but the deals they’re looking at are big deals, and they could end up investing substantial sums in Israel.”
Israel presents exciting opportunities in the energy, retail and industrial sectors, Gillerman said. Financial News said Israel has attracted some of the world’s biggest private equity firms in recent years, including Apax Partners, Warburg Pincus, TPG Capital and Permira, driven by relatively high GDP growth, low unemployment and relatively low inflation, according to industry figures.
Nico Hansen, a partner at Apax, said at the Summit that the firm was looking to raise a $500 million fund capable of doing roughly 10 deals, in a reaction to the number of mid-market deals on offer.
Apax founder Sir Ronald Cohen sold his share of the firm to invest more of his assets directly into logistics parks and other development initiatives in Israel via The Portland Trust.
