The KCPS Manof fund was established as part of the government stimulus plan to address the freeze in the Israeli credit markets during the global financial crisis of 2008. The fund’s objective is to partake in corporate restructuring or to provide financing to companies, allowing them to refinance existing debt. KCPS Manof fund targets companies that:
- Generate a majority of their revenues in Israel and have the majority of their assets in Israel
- Issued bonds on the Tel Aviv Stock exchange or received loans from at least two Israeli institutional investors
KCPS Manof fund acts flexibly in structuring transactions, which may include private equity stakes, public securities across the capital structure, various debt – warrants – equity structures, profit sharing and structured asset backed financing with various maturities and seniority positions.
KCPS Manof fund has raised in excess of 1.2 billion NIS, a quarter of which was committed by the Israeli government; the remaining 75% of the fund was committed by Israeli institutional investors and the fund's team of general partners.