![Isras Holdings logo](data:image/svg+xml,<svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 20 20"><rect fill="%23e5e7eb" width="20" height="20" rx="4"/></svg>)
October 2026
Largest Asset Management Public Companies in Israel
Benchmark revenue and EBITDA valuation multiples for public comps like
Phoenix Financial, Harel Group, Menora Mivtachim, Migdal Group and Meitav Investments House.
 | Phoenix Financial is a publicly listed Israeli financial-services group whose history dates to 1949. The group operates insurance businesses covering life, health, property and casualty risks and also manages pensions, provident funds and other long-term savings. Its asset- and wealth-management operations serve retail, affluent and institutional clients through investment products, brokerage and portfolio services. Phoenix also owns a distribution platform of insurance agencies and independent brokers and has activities in consumer and business credit, payments and alternative investments. Individuals, employers, businesses and institutional investors use the group's products. Phoenix earns insurance premiums, investment-management and brokerage fees, distribution commissions, financing income and related service revenue. The company is based in Givatayim and its shares trade on the Tel Aviv Stock Exchange. | $58 | +50% | $15B | $12B | 1.3x | 6.2x | ||
| Harel Insurance Investments & Financial Services Ltd is a diversified insurance company that offers a selection of life insurance policies, health insurance, nursing insurance, travel insurance, car insurance, and rent and property insurance to residential and commercial customers in Israel. The company also generates revenue through investment portfolio management, mutual funds, and exchange-traded funds. Its operating segments include Life assurance and long-term savings, Health insurance, and Non-life insurance. Non-life insurance consists of five sub-segments: Motor property (CASCO); Compulsory motor; Other liabilities sectors; Property and other sectors; and Credit insurance for residential mortgages and development and operating services for mortgage portfolios. | $62 | +77% | $13B | $11B | 1.2x | 5.9x | ||
| Menora Mivtachim Holdings Ltd is a diversified insurance and finance group that operates in Israel. The company specializes in asset management and diversified insurance services, including general, life, and health insurance. Menora is also active within the capital market in a variety of fields, including corporate finance, investment banking, structured finance, and more. The company offers a broad variety of mutual funds that invest in various avenues in Israel and around the world, while also managing pension products and provident funds. The company's operating segments include Life insurance and long-term savings, focusing on policies, pension, and provident funds for death and disability risks, the Health insurance segment, and the Property and casualty insurance segment. | $173 | +73% | $11B | $11B | 3.1x | 8.6x | ||
| Migdal Insurance and Financial Holdings is a publicly listed Israeli insurance, pension and financial-services group. Its operating companies provide life, health, general and long-term-care insurance to individuals and businesses. The group also manages pension plans, provident funds, study funds, mutual funds and discretionary investment portfolios. Migdal's investment organization allocates customer and shareholder assets across public securities, private credit, infrastructure, real estate, private equity and other alternative investments. The group serves millions of private and corporate customers through employees, insurance agents, subsidiaries and affiliated agencies. Its parent holding company is traded on the Tel Aviv Stock Exchange and is controlled by Eliahu 1959 alongside public shareholders. Revenue comes from insurance premiums, investment income, asset-management fees and related financial services. The group's principal offices and customer-service operations are in Petah Tikva, Israel. | $6 | +78% | $6.8B | - | - | - | ||
| Meitav Investments House Ltd operates as an investment house managing securities portfolios, ETFs, mutual, provident, & pension funds. | $39 | +24% | $3.3B | $4.4B | 6.1x | 11.2x | ||
| Alony-Hetz Properties & Investments Ltd is a real estate company that owns and operates commercial properties. It is focused on making long-term investments in income generating property companies in Israel and in Western countries. The type of real estate it manages includes office buildings, commercial centers, supermarkets, central business stations, and industrial parks. In addition, it holds income-generating investments in the photovoltaic energy and wind energy sectors, as well as in the development and initiation of electricity-generating and storage facilities in Israel, the United States, and Poland. The group's operating segments are: Income-Generating Property, which derives maximum revenue, and Energy. | $9 | -23% | $2.1B | $13B | 17.2x | 32.2x | ||
| The Israel Corp Ltd is a holding company. Along with its subsidiaries, it operates as a specialty minerals and chemicals company creating solutions to challenges in the food, agriculture, and industrial markets by leveraging its bromine, potash, and phosphate resources. The group operates through the following segments: Industrial Products (Bromine), Potash, Phosphate Solutions, and Growing Solutions. Maximum revenue is generated from its Phosphate Solutions segment, which manufactures phosphoric acid, sulphuric acid, green phosphoric acid, and phosphate fertilizers through its mines and facilities in Israel and China. Geographically, the group generates maximum revenue from Israel, followed by Europe, South America, North America, Asia, and other regions. | $24 | -32% | $1.9B | $8.1B | 1.1x | 6.4x | ||
| I B I Investment House Ltd is an investment company. It offers investment management & trading services from mutual fund, & provident fund, to trading and execution services on portfolio management, investment banking, & foreign currency, among others. | $132 | +89% | $1.9B | $1.8B | 3.7x | 11.9x | ||
| Generation Capital Ltd is an investment fund in infrastructure, energy and transportation. | $1 | +103% | $1.7B | $1.8B | 24.1x | - | ||
| Lapidoth Capital Ltd through its subsidiaries is engaged in various fields, including contracting and entrepreneurial activity in Israel and abroad in the fields of construction and infrastructure, import and marketing of mobile phones and related accessories, international trade, investments in securities, oil and gas exploration and production, and water drilling. . The company generates majority of its revenue from construction and infrastructure contracting through its subsidiary Danya Cebus which has taken part in dozens of public construction, offices, commerce and industry projects for public entities and private entrepreneurs. It also includes infrastructure projects, including paving roads, building railway infrastructure, bridges, and related infrastructure development. | $24 | -5% | $1.4B | $2.6B | 1.0x | 12.4x | ||
| Isras Investments Co Ltd develops, erects, and administers yielding assets. The company is also engaged in the construction of residential and industrial properties. Its projects include technology park and office buildings, among others. | $253 | -10% | $1.2B | $2.5B | 13.6x | - | ||
| Isras Holdings Ltd operates through subsidiaries that is engaged in the development, construction, and management of various real estate properties. | $120 | -3% | $769M | $2.5B | 13.3x | 15.6x | ||
| Altshuler Shaham is an Israeli investment house founded in 1990 by Gilad Altshuler and Kalman Shaham. The group manages pension funds, provident funds, study funds, mutual funds and discretionary investment portfolios for individual and institutional clients. It also provides retirement-planning guidance, trust services, foreign-exchange solutions, alternative-investment distribution and non-bank credit through specialized subsidiaries. Its official English profile reports approximately NIS 188 billion managed for about 2.1 million clients and investors. Investment teams allocate capital across Israeli and international public markets as well as selected alternative assets. Altshuler Shaham Finance is the group's publicly traded entity, while other regulated operating companies conduct pension, savings and portfolio-management activities. The business earns management fees, advisory fees and financing income from the products and services it provides. The group is headquartered in Tel Aviv and remains controlled by its principal shareholders alongside public investors in the listed company. | $2 | -29% | $372M | $611M | 2.1x | 7.2x | ||
| Discount Investment Corp Ltd is an Israel-based holding company. The company's main line of business is to invest in other enterprises in a variety of sectors. Its portfolio comprises of domestic and foreign companies which are well established or have a strong growth potential. Discount's investment areas include cellular communications, advanced technologies, retail and food, real estate and construction. It basically invests across three main segments, which are Cellcom, Shufersal and Property and Building Corporation. Shufersal is a retail chains in Israel,cellcom is a cellular operators in the country. | $3 | -13% | $368M | $6.6B | 22.3x | - | ||
| Norstar Holdings Inc is a multinational real estate holdings company based in Israel. The company is the major shareholder of Gazit Globe, a multi-national real estate investment company that acquires, develops, and manages supermarket anchored shopping centers. The company operates through a variety of subsidiaries: in the United States through Equity One Inc., Royal Senior Care LLC, and ProMed Properties Inc.; in Canada through First Capital Realty Inc.; and in Europe through Citycon Oyj. In the United States the company focuses on projects in the senior housing and the medical office building sectors in North America. | $2 | -10% | $152M | $8.2B | 11.1x | 18.4x | ||
| Ram-On Investments and Holdings (1999) Ltd is an Israeli public holding and investment company headquartered in Ram-On Gilboa and listed on the Tel Aviv Stock Exchange under ticker RMN. Formerly named Polyram 1999 Ltd, the company retains a materials focus through interests connected to engineering thermoplastic compounds and related technologies. Public filings classify it in the materials and bulk-chemicals sector while also describing its investment activity. Ram-On makes real and financial investments in private and public businesses rather than operating a venture fund for outside limited partners. In April 2017 it led Classoos's USD 2.25 million financing with a USD 1.5 million commitment, demonstrating its direct private-company investment role. Its returns are tied to its corporate holdings, dividends and investment realizations. The company primarily engages with portfolio businesses, industrial counterparties and capital-market participants. | $3 | -- | $54M | $59M | ||||
| Median | $24 | -3% | $1.8B | $4.4B | 4.9x | 11.2x |
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