The Real Deal New York

Israeli fund Hagshama to ramp up NYC presence

Avi Katz’ firm competes with pension funds
Avi Katz

Avi Katz

Israeli investment firm Hagshama Fund is looking to open a New York City office next year and plans to ramp up real estate investments.

Founded by Avi Katz in 2009, the fund has raised around $650 million from individual investors chipping in $25,000 each on average. In the U.S., it plans to compete with pension funds as a vehicle for middle-class and upper-middle-class savers to invest in real estate.

“Anyone can now go on Google Earth, see the color of the windows in a Manhattan building, or an office door in Tel Aviv,” Katz told Bloomberg.

According to Katz, Hagshama already holds a $6 million stake in an unnamed, $21 million Manhattan apartment building. Katz also runs the Israeli grocery store chain Cofix. [Bloomberg]Konrad Putzier