The Noy Fund, managed by Pini Cohen, Gil-Ad Boshwitz, and Ran Shlakh, has completed a fundraising round of NIS 2 billion as part of a planned total of NIS 2.5 billion. Among the fund’s investors are veteran participants such as Clal, Menora, Amitim, Migdal, Phoenix, Meitav Dash, Yelin Lapidot, and the Teachers’ and Kindergarten Teachers’ Pension Funds.
The new fund has signed its first investment agreement with Bynet Data Centers, owned by the Zisapel family. Noy Fund 5 will invest NIS 200 million in Bynet Data Centers, with additional investments possibly amounting to hundreds of millions of shekels depending on the company’s development. According to estimates, the fund will acquire a 25%-30% stake in Bynet Data Centers, with the investment valuing the company at NIS 450-600 million pre-investment and NIS 650-800 million post-investment.
Bynet Data Centers, managed by Eli Moshe, currently operates seven data centers in Israel, serving 100 local and international clients. The company is constructing two additional data centers, in Shoham and Jerusalem. The investment from Noy Fund will help finance these projects and accelerate the establishment of additional data centers.
The Noy Fund 5 is also in advanced negotiations to acquire 25% of the operational license for Haifa Port, currently fully owned by the Chinese SIPG (Shanghai International Port Group). Additionally, the fund is targeting a major investment in the renewable energy sector in Israel, an area it views as having significant growth potential in the coming years.
In July 2024, the Noy Fund participated in the first tender issued by the Electricity Authority for the establishment of energy storage facilities in the northern Negev and Arava regions. These facilities, expected to begin operations in 2027, aim to support the integration of more renewable energy plants into the power grid. These areas are characterized by grid congestion on the one hand and significant potential for renewable energy development on the other. Building energy storage facilities will also enhance the energy security of these regions.
Established in 2011, the Noy Fund has invested in over 30 infrastructure projects in Israel, including roads, energy, public transportation, projects in collaboration with the Ministry of Defense, and renewable energy. To date, the fund has raised NIS 12 billion across five funds.