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Silverock Group
Neil Kaye runs Silverock Group as a developer-operator, deploying the Hasten family's bank-sale fortune into Israeli luxury resorts and residential...
Silverock Group
Silverock Group traces its capital to brothers Mark and Hart Hasten, who started building and managing upscale convalescent homes and apartment complexes in Indianapolis in the early 1970s. They later accumulated over 10,000 residential units and 1.1 million square feet of commercial space. In 1974, the brothers acquired First National Bank & Trust of Indiana, growing it into the state's largest privately held bank before selling to Bank of Montreal for three times book value in 2006. Mark Hasten died in 2020. The family deploys capital almost entirely through direct ownership of physical assets and operating businesses. Its portfolio includes two Marriott-affiliated properties in Nazareth, the Carmel Beach Hotel & Suites in Haifa, and luxury residential projects in Ra'anana and Caesarea. The centerpiece is The Modani, a destination wellness spa resort under development on Israel's central coast, designed by Hirsch Bedner Associates. The firm also retains an interest in private credit and FinTech opportunities emanating from its banking roots, with a geographic focus split between Israel and the United States. Day-to-day investment and operating decisions run through Neil Kaye and Judy Kaye. Neil Kaye spent a decade in US hotel executive roles — including opening Le Mondrian in Los Angeles and serving as General Manager of the Doubletree Marina — before moving to Israel to operate Marriott's country portfolio. Judy Kaye oversees design and financing, having previously managed marketing and operations across the Hastens' residential portfolio. The group's footprint remains concentrated in Herzeliya and specific Israeli coastal development sites. The firm's structural differentiator is its identity as a principal developer rather than a fund allocator. Silverock doesn't back external GPs or participate in blind-pool funds. It acquires land, secures entitlements, manages construction and design, and operates completed assets. The rare combination of a single-family balance sheet with in-house operational capability — particularly Neil Kaye's track record with international hotel brands — gives the group a cost-of-capital and execution advantage that third-party developers in Israel's coastal markets don't replicate.
General information
Firm type
Single Family Office
Year founded
—
AUM
Undisclosed
Location
Region
Asia
Country
Israel
City
Herzeliya
Corporate office
Ramat-Yam 4, Herzeliya, 4685104, Israel
Principals
Judy Kaye
Principal
Neil Kaye
CEO
Sector focus
Frequently asked questions
Who runs investment decisions at Silverock Group?
Neil Kaye, CEO, and Judy Kaye, Principal, jointly run the firm's strategy and operations. Neil Kaye is a 35-year hospitality veteran who previously operated Marriott-branded hotels in Israel and executive-managed properties in Los Angeles. Judy Kaye oversees design, financing, and the firm's residential development projects. The founders, brothers Mark and Hart Hasten, established the family's wealth through US nursing homes and a bank sale.
How does Silverock Group source its deals?
Silverock does not solicit or screen external deals through a traditional pipeline. Because the firm acts as a principal developer, it originates its own projects — acquiring land, securing entitlements, and managing construction for its luxury residential and hospitality developments in Israel. The family's decades-long presence in Israeli and US real estate gives it direct access to off-market land opportunities, rather than relying on intermediary-brokered auctions.
Is Silverock Group a family office, an asset manager, or a developer?
Silverock operates as a single-family office but functions economically as a real estate developer and hospitality operator. The firm's capital comes entirely from the Hasten family and is deployed directly into owned and operated assets, not into third-party funds. It does not manage outside capital or operate as a multi-family office, making its developer DNA a defining structural trait.
Does Silverock Group participate in fund commitments or only direct deals?
The firm's capital is overwhelmingly deployed into direct real estate and hospitality projects where Silverock has operational control. While the family has a history in banking and private credit and lists FinTech as a confirmed sector focus, there is no public disclosure of commitments to external private equity or venture capital funds. The strategy remains concentrated on wholly-owned hard assets.
What is Silverock Group's known posture on co-investments alongside external GPs?
Silverock has not publicly described a program of co-investing alongside external managers. The firm's track record — developing Marriott-flagged hotels and entire residential communities in Israel — reflects a preference for full control over project execution rather than minority-position investing. Any private credit or FinTech exposure appears to be managed without relying on GP-led club deals.
Where does the underlying wealth come from?
The Hasten family fortune was initially built through US nursing-home and apartment development starting in the 1970s. The transformational liquidity event was the 2006 sale of First National Bank & Trust of Indiana to Bank of Montreal for three times book value. Prior to the sale, the brothers Mark and Hart Hasten had grown the institution into Indiana's largest privately owned bank with over 30 branches.
Does Silverock Group maintain philanthropic structures?
Yes. The Hasten family operates at least two charitable foundations: the Hart N and Simona Hasten Family Foundation and the Mark and Anna Ruth Hasten Family Foundation. Through these vehicles, the family has supported more than 150 educational institutions, reflecting a long-standing philanthropic commitment that runs parallel to but separate from Silverock's commercial development activities.
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