New York's Common Retirement Fund to invest $100m in Israel

NY State Comptroller Alan Hevesi said last week during a meeting with Acting Prime Minister and Finance Minister Ehud Olmert that New York's Common Retirement Fund (CRF) will establish a new $100 million fund for investing in Israeli high-tech
 
During the meeting with Olmert, Hevesi expressed confidence in the sound Israeli economy :"We believe in the future of the Israeli economy and are very satisfied with our previous investments".
 
The New York's Common Retirement Fund is known to be the second largest in the U.S. and its assets are estimated at over USD 120 billion.
 
Olmert said that "the impressive USD 100 million investment, is another strong indication that the world economy trusts the Israeli economic leadership, and in israel being an attractive target for foreign investments."
 

It is understood that the New York's Common Retirement Fund plans to invest in the next two to three years in about eight to ten Israeli venture capital funds, about $5 million to $15 million each.