Brevan Howard Founder Building Massive Israel Estate

Feb 27 2012 | 3:58am ET

Brevan Howard Asset Management founder Alan Howard plans to be living large in Israel—larger, indeed, than anybody else in the country.

Howard, who in 2010 moved from London to Geneva to escape the U.K.'s new top tax rate, is planning the largest private residence in Israel. The massive 20,000-square-foot estate (consisting of a 12,000 square foot house and an 8,000 square foot guest house) is already under construction in the city of Herzliya, just north of Tel Aviv, in the beachfront Pituach neighborhood, one of Israel's poshest.

According to the Yedioth Ahronoth newspaper, the estate will cost about US$100 million, but a source familiar with the matter told FINalternatives it will actually cost "less than half" that amount. The hedge fund billionaire's plot, purchased in 2006, is the largest in Herzliya.


In Depth

bfinance: Fees Falling Across Asset Classes, Yet Overall Investor Costs Still Climbing

May 16 2017 | 9:53pm ET

Despite unprecedented attention on fees, new research from investment consultancy...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Risk-Based Compliance: Why Oversight Of Outsourcing Is Critical

May 10 2017 | 7:02pm ET

Compliance is notoriously one of the trickiest middle office functions for funds...

 

From the current issue of