01In brief
The Israel Infrastructure Fund (IIF) is an infrastructure investment fund reported to have $2.7 billion in assets under management. It invests in infrastructure assets in Israel and international markets across energy, transport and smart mobility, water and natural resources, and digital infrastructure. Its reported investment activity has included control of Zephyrus Wing Energies, a Polish renewable-energy company, and the sale of 3.5% of rights in Israel's Tamar offshore natural-gas reservoir for approximately $280 million, a transaction that implied a reservoir valuation exceeding $8 billion.
02Investment Focus and Portfolio
IIF deploys capital across four principal sectors: energy, transport and smart mobility, water and natural resources, and digital infrastructure.[1] Its investments span both the Israeli domestic market and international markets.
The fund was reported to control Zephyrus Wing Energies Ltd., a renewable-energy company founded in 2009 that constructs, operates, and manages wind farms and photovoltaic systems in Poland.[1] Its Potegowo wind project comprised eight wind farms across multiple sites in northwestern Poland, with 98 turbines and a combined capacity of 257 megawatts; reported investment in the project was €340 million.[1] At the time of reporting, Zephyrus also had a 55-megawatt solar project in advanced development and three additional solar and wind projects totaling 310 megawatts in its development pipeline.[1]
03Tamar Natural Gas Field Transaction
IIF previously held rights in the Tamar offshore natural-gas reservoir. In a transaction completed in September 2024, Israeli businessman Aaron Frenkel purchased 3.5% of the reservoir rights from the fund for approximately $280 million — more than NIS 1 billion — implying a total reservoir valuation of more than $8 billion, or approximately NIS 28 billion.[2] Frenkel's broader Tamar position was assembled through transactions involving Mubadala Petroleum, Harel Insurance and Finance, and IIF.[2]
Sources
- 1The Times of Israel (accessed September 17, 2026)
- 2The Jerusalem Post (accessed September 17, 2026)
IsraelPedia Question & Answers
What is the Israel Infrastructure Fund?
The Israel Infrastructure Fund (IIF) is an infrastructure investment fund reported to have $2.7 billion in assets under management. It invests in infrastructure assets in Israel and international markets across four principal sectors: energy, transport and smart mobility, water and natural resources, and digital infrastructure.
What is the Israel Infrastructure Fund's involvement with Zephyrus Wing Energies?
The Israel Infrastructure Fund was reported to control Zephyrus Wing Energies Ltd., a renewable-energy company founded in 2009 that constructs, operates, and manages wind farms and photovoltaic systems in Poland. Zephyrus's Potegowo wind project comprised eight wind farms across multiple sites in northwestern Poland, with 98 turbines and a combined capacity of 257 megawatts, with reported investment in the project of €340 million.
What was the Israel Infrastructure Fund's transaction involving the Tamar natural gas reservoir?
In a transaction completed in September 2024, Israeli businessman Aaron Frenkel purchased 3.5% of the Tamar offshore natural-gas reservoir rights from the Israel Infrastructure Fund for approximately $280 million — more than NIS 1 billion. The transaction implied a total reservoir valuation of more than $8 billion, or approximately NIS 28 billion.
How did Aaron Frenkel assemble his broader position in the Tamar reservoir?
Aaron Frenkel assembled his broader Tamar position through transactions involving Mubadala Petroleum, Harel Insurance and Finance, and the Israel Infrastructure Fund.