Realized Investments

Derech Eretz Mezzanine Notes

Sector: Transportation
Investment Date: December 2008

Derech Eretz Highways is responsible for the finance, design, construction, operation and maintenance of the Cross Israel Highway (Route 6) under a 30 year concession agreement.

Route 6 is an innovative and advanced electronic toll road spanning over 170 km from the north to the south of Israel.  It serves as a major traffic artery for traveling to the north or the south and it connects peripheral residential areas to the center of the country.

In December 2008, IIF purchased mezzanine notes from several institutional investors which were sold one year later, generating a money multiple of 2.14x.