• About the Aluma Fund

About the Aluma Fund

Aluma (ALUMA) is an Infrastructure Investment Fund listed on the Tel-Aviv Stock Exchange (TASE) since November 2021.


Established in 2020, the Fund complies with the recommendations issued in the final report of the Committee for the Promotion of the Establishment of Listed Infrastructure Investment Funds which was written to further develop the infrastructure in Israel, and to facilitate greater accessibility to investors from the public.


An executive team of seasoned professionals with proven capabilities in mega-project management heads the Fund. With decades of experience and expertise in the fields of infrastructure, management, finance, and capital markets, the management team has been a key player in most of the major transactions executed in the Israeli infrastructure market in Israel in recent years.


The Fund's founders are Ori Yogev (Chairman of the Board of Directors), Inon Yogev (former CEO), Muli Ravina (Chairman of the Investments Committee), Miki Zaharia (Director), and Nati Shachor.



  • Investment Policy

Investment Policy

Investment Policy

The Fund has formulated a proprietary investment model, which differentiates it from the other Infrastructure Investment Funds in Israel, and is based on three main principles:


The Fund's management has a "hands-on" approach to target companies, which aims to increase the efficiency of the companies' operations and improve their yields.


The Fund prefers and prioritizes investment in infrastructure companies over those companies working on projects or ventures in the field of infrastructure, as the Fund believes investment of this type can generate a higher yield.


The Fund focuses on infrastructure fields with the highest potential for growth: telecommunications, green energy, and the environment.

Our Expertise

Fields of Activity

  • Telecommunications


The telecommunications market is the primary growth factor for the global economy and a medium for making information accessible, reducing knowledge gaps, and enhancing economic development. The Fund's activities included establishing and operating wireless telecommunications facilities, deploying and operating a fiber-optic-based undersea cable for telecommunications services between Israel and Cyprus, and operating server farms (data centers) through two companies engaged in the field: Tibar - Communication Towers and Tamares Telecom. In addition, Tamares has a 32% holding in the telecommunications services company, ITC.

Related companies: Tamares Telecom, Tibar – Communication Towers, and Green Anchors.
read more about TelecommunicationsFor additional information
  • The Environment

The Environment

The State of Israel currently lags behind other Western countries in terms of reducing waste production, and is one of the world's largest waste producers. Therefore, the Ministry of Environmental Protection is promoting a new policy to reduce the volume of waste sent to landfills through the maximum reuse of waste. 

Related companies: Chen Hamakom.
read more about The EnvironmentFor additional information
  • Green Energy

Green Energy

The global trend promoting green energy and energy-saving policies has led many countries (including Israel) to offer various incentives, which are intended, among other things, to achieve energy savings. Israel is a signatory to the "Paris Agreement," within which countries commit to taking practical steps to reduce greenhouse gas emissions through energy efficiency, which is also a significant tool for meeting the reduction targets.

Related companies: 
Esco Israel Electricity Distribution 2010 Ltd. (100%) and Esco Aluma Ltd. (50%).
read more about Green EnergyFor additional information

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