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Michael Dell's MSD Capital, Endicott Buy a 15% Stake at Bank Leumi Corporation at a Company Value of $1 Billion

Michael Dell's MSD Capital, Endicott Buy a 15% Stake at Bank Leumi Corporation at a Company Value of $1 Billion

The New York-based firms paid $140 million and will enter as strategic partners in Bank Leumi Le-Israel Corporation, a New York-based subsidiary of Israel’s Bank Leumi

Amarelle Wenkert | 13:25  22.01.2018

New York-based investment management firm The Endicott Group, together with New York-based private equity company MSD Capital LP, has bought a 15% stake at Bank Leumi Le-Israel Corporation, a subsidiary of Israel’s Bank Leumi, at a company value of $1 billion, Bank Leumi announced Monday. The two investment firms paid $140 million.

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Endicott and MSD Capital also entered a strategic partnership with Bank Leumi, the bank announced.

Bank Leumi CEO Rakefet Russak-Aminoach. Photo: Orel Cohen Bank Leumi CEO Rakefet Russak-Aminoach. Photo: Orel Cohen Bank Leumi CEO Rakefet Russak-Aminoach. Photo: Orel Cohen

Bank Leumi Corporation operates Bank Leumi USA, which offers commercial banking services. The company was founded in 1983 and is based in New York. Founded in 1996, The Endicott Group is an investment firm managing more than $600 million in investments. The firm focuses on investment in the financial services sector. Endicott’s co-president Wayne Goldstein is expected to join the boards of Bank Leumi USA and Bank Leumi Corporation.

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Founded in 1998 by Michael Dell, founder and CEO of Dell Technologies, MSD Capital invests primarily in publicly traded securities and private equity activities, among other investments. The firm is based in New York, with additional offices in California, Florida, Delaware, and the U.K.

Bank Leumi CEO Rakefet Russak-Aminoach said in a statement that the two strategic partners are expected to contribute to the growth in the bank’s client-base, help expand the bank’s activity in the U.S., and help the bank execute complex deals.

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