Ibex closes second Israel secondaries fund at $87m, more than doubling its predecessor

Ibex has closed its second Israel-focused secondaries fund at $87m, more than doubling the size of its predecessor, AltAssets reported on 28 September. The accessible portion of that report is a subscriber notice, which leaves the LP base, the target, the strategy and any accompanying final-close figure outside the public account.

The arithmetic still says something: for $87m to more than double the predecessor, the first Israel secondaries fund closed below $43.5m. A proportional jump that large against an absolute number that small suggests a franchise still assembling a dedicated LP base rather than one scaling an established pool, an inference the report neither supports nor contradicts, since it names no investor and gives no figure for the earlier vehicle.

Country-specific secondaries pools depend on supply: LPs holding Israeli private-equity positions who want liquidity, and sponsors willing to move assets into a new vehicle. Continuation vehicles have become the primary exit for sponsors, PWD has argued, and their benchmark-free closes leave the sponsor's mark as the only price. Whether Ibex will buy into GP-led processes or concentrate on LP positions sold at a discount is not disclosed, and a dedicated Israel pool needs an answer to both.

What would make the pace legible — the size of that first fund, the names committed to the second — sits behind the subscriber wall. The franchise currently reads as a single data point: $87m, raised in a market where the trades that set secondaries pricing are the ones sponsors themselves arrange. The next number that would size Ibex against its peers is a third vehicle, or a first-fund figure someone chooses to publish.