IBI Investment House (TASE: IBI). NIS 54B AUM. Founded 1971. TA-90 constituent. Israel's only integrated platform combining asset management, brokerage, underwriting, and institutional research under one roof.
I.B.I. Investment House (TASE: IBI). Founded 1971. NIS 54B AUM. TA-90 constituent. Israel's only integrated platform combining asset management, brokerage, underwriting, and institutional research under one roof.
The Integrated Platform Model
IBI operates an integrated financial services platform that combines asset management with capital markets execution. Most Israeli investment houses are primarily asset managers — they collect provident and pension capital and invest it. IBI does that, but also executes trades, underwrites IPOs and secondary offerings, publishes institutional research, and provides advisory services.
The business lines: portfolio management; mutual funds; provident funds; institutional and retail brokerage; underwriting and distribution; investment research; and advisory. The integration generates cross-selling revenue and client stickiness that pure asset managers like Altshuler Shaham do not capture.
IBI also operates Generation Capital — an infrastructure and energy investment fund channeling institutional and retail capital into strategic Israeli infrastructure projects, raising NIS 280 million on TASE.
All-Time Stock High
IBI's stock reached an all-time high of NIS 57,790 on May 29, 2026 — a 97% increase over trailing twelve months. Market cap ~NIS 5.6-6.8 billion. TTM revenue ~NIS 1.87 billion. EBITDA ~NIS 556 million (29.75% margin). Dividend yield ~3.17%.
The performance reflects a broader rerating — the same trend driving Meitav's share price and the Big Five insurance groups. Israeli institutional capital managers are repricing as savings pools grow and Israeli investors increase allocation to international markets.
Capital Markets and Underwriting
IBI's underwriting business gives it a role in Israeli IPOs, secondary offerings, and bond issuances. The firm participated in multiple TASE capital raises through 2025-2026, positioning it alongside Bank Leumi, Bank Hapoalim, and the larger investment banks as an issuer-side intermediary.
This dual role — managing assets and underwriting issuances — creates revenue diversification: when management fees are under pressure, transaction-based revenue from underwriting and brokerage can offset the decline.
Where IBI Sits in the Capital Stack
IBI occupies the middle tier — below Meitav (NIS 450B) and Altshuler Shaham (NIS 197B) by AUM, above Mor and Psagot. The integrated capital markets platform makes it structurally distinct from all of them.
Headquartered at Shalom Tower on Ahad Ha'Am — the traditional Tel Aviv financial district — alongside Psagot and the major banks.
