NAV Fund Administration Group has established a new business presence in Israel to support an increase in demand for experienced administrative services due to a resurgent local economy, increased international business presence, and rapid growth in the alternatives fund management industry in recent years.
"We look forward to partnering with Israeli fund managers in support of the continued growth and development of the local fund management industry," said NAV Senior Vice President Manish Saraf. "NAV offers 30+ years of global experience, industry expertise, and the award-winning proprietary technology required to provide flexible, wide-ranging administration services at a very competitive value."
According to Reuters, Israel's economy grew at its fastest pace in 21 years in 2021 as consumer spending, exports and investment recovered from pandemic-affected 2020 with double-digit gains. The economy grew 8.1% last year, exceeding the Bank of Israel's forecast of 6.5. The Central Bureau of Statistics noted growth in Israel last year was one of the strongest globally.
Saar Weintraub, 20-year+ industry veteran and Israel resident, has been named Director of Business Development and Sales and will be based in the Center of Israel. Inquiries should be routed to +972 9 3760999 or via email at Saar.Weintraub@navconsulting.net. NAV's services in Israel will be administered by NAV Consulting, Inc. or NAV Fund Services (Cayman) Ltd., depending on the jurisdiction of the fund.