Apax Funds announce closing of acquisition of stake in Psagot Investment House Ltd

Apax Funds announce closing of acquisition of stake in Psagot Investment House Ltd

3 November 2010

Tel Aviv, 3 November 2010 - Funds advised by Apax Partners today announced the completion of the purchase of a majority shareholding in Psagot Investment House Ltd ("Psagot") from shareholders led by York Capital Management. Psagot is the largest asset management business in Israel with assets under management of over NIS 139 bn (€27.6 bn, $38.3 bn). The transaction was announced in December 2009.

Zehavit Cohen, a Partner and head of the Israeli office, commented: "We are delighted with the successful completion of the investment in Psagot. Psagot is a clear market leader that is well-positioned to continue its growth in the future. We look forward to working with Psagot's strong management team to develop the company."

For further information, please contact:
Ben Harding
Tel: +44 (0)20 7872 6401
Email: ben.harding@apax.com  


About Apax Partners
Apax Partners is one of the world's leading private equity investment groups. It operates across the United States, Europe and Asia and has more than 30 years of investing experience. Funds under the advice and management of Apax Partners globally total around $40 billion. These Funds provide long-term equity financing to build and strengthen world-class companies. Apax Partners Funds invest in companies across its global sectors of Tech & Telecom, Retail & Consumer, Media, Healthcare and Financial & Business Services. For more information visit: www.apax.com. 

About Psagot
Psagot is the largest investment house in Israel with managed assets of NIS 139 billion. The investment house has long term and short term investment services. For more information please visit: www.psagot.co.il.

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