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Investcorp plans to launch a $500 million Saudi fund

Investcorp plans to launch a $500 million Saudi fund

Hazem bin Jassim, Investcorp’s co-CEO, said the fund plans to launch a $500 million Saudi fund that will invest in private companies that will eventually be listed on the Saudi stock exchange.

Investcorp also wants to launch the fifth Saudi firm in its existing investment portfolio on the Tadawul Stock Exchange in 2022, according to Reuters’ chief executive.

On the sidelines of the Future Investment Initiative conference in Riyadh, bin Jassim continued, “First and foremost, the Saudi domestic economy is very robust and prospering, and this translates into the very great performance of local enterprises.”

Investcorp, which oversees $38 billion in assets, plans to reach the medium-term target level of $50 billion by 2023, and then move on to the next target level of $100 billion.

Aberdeen Standard Investcorp Infrastructure Partners reported in June that it has obtained capital pledges worth up to 20% of the fund’s entire size from Saudi Arabia’s $430 billion Public Investment Fund before its first anticipated close.

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