Former Hostages Forum Head Launches $50 Million Private Equity Fund
Translated & summarized from Calcalist by baba
ראובן אבלגון, former chairman of the Hostages and Missing Families Forum, has launched a new private equity fund, Tavor Capital Partners, aiming to raise NIS 200 million. The fund will invest in small to medium-sized companies across various sectors, focusing on active management to improve governance. Partner דוד פרידמן, formerly of KPMG and Dor Chemicals, joins אבלגון, who has over 50 years of capital market experience. The fund is already exploring initial deals and has received positive investment indications.
The story in 6 lines · by baba
- Former Hostages Forum chairman ראובן אבלגון launches Tavor Capital Partners fund.
- The fund aims to raise NIS 200 million for investments in SMEs.
- Target sectors include industry, energy, agriculture, food, and logistics.
- Partner דוד פרידמן, ex-KPMG and Dor Chemicals CEO, joins אבלגון.
- The fund is exploring initial deals in cranes and packaging sectors.
- ראובן אבלגון has over 50 years of experience in the capital market.
Less than a year after the Hostages and Missing Families Forum concluded its activities, its former chairman, ראובן אבלגון, is launching a new private equity fund named Tavor Capital Partners. The fund aims to raise NIS 200 million (approximately $50 million) and will focus on investing in small and medium-sized companies in sectors such as industry, energy, agriculture, food, logistics, waste management, recycling, business services, and retail chains. Target companies are those with annual revenues of at least NIS 80 million and EBITDA of NIS 10 million or more.
The fund intends to take an active management role in its portfolio companies, aiming to improve their corporate governance and financial reporting. The typical investment size per company will be around NIS 60 million. Tavor Capital Partners is particularly interested in companies from the kibbutz sector, family businesses facing succession challenges, and other private companies.
ראובן אבלגון's partner in this venture is דוד פרידמן, formerly a manager in the economic department at KPMG and previously CEO of Dor Chemicals. The fund is seeking investments from qualified investors and institutional bodies, having already received positive indications for investments totaling NIS 80 million. The initial closing is expected to secure half of the fundraising target.
ראובן אבלגון and פרידמן are reportedly examining two initial deals, one in the cranes sector and another in the packaging sector. Additionally, the fund is in discussions with a financial entity that has committed NIS 100 million to be managed by Tavor Capital Partners for investments in various companies.
ראובן אבלגון brings extensive experience to the new fund, with approximately 53 years in the capital market. He previously led the underwriting firm Rosario Capital for about 20 years before selling his stake in 2022. He has also served as chairman of Into Holdings and as CEO of Israel Corporation Finance. His career began as a CPA at Kesselman & Kesselman and included a period as treasurer at Ofer Assets.