Latham Advises on Affinity Partners’ Sale of Stake in Phoenix Financial for Over NIS 1 Billion

Affinity Partners has announced the entry of a small number of the world's premier long-only asset managers into Phoenix Financial's shareholder base, further strengthening the company's ownership structure and broadening its international investor base. The transaction involved the sale of 25% of its shares in Phoenix Financial for over NIS 1 billion, enabling Affinity to return its original investment to its limited partners while retaining its position as the company's largest shareholder with 7.4% of Phoenix shares.

Latham & Watkins advised Jefferies as Sole Global Coordinator and Sole Bookrunner with a team led by London partner Josh Kiernan and Tel Aviv partner Gilad Zohari, with London associate Frederick Gardner and Tel Aviv associate Jamie Savren.