{"id":91721,"date":"2024-11-20T00:00:00","date_gmt":"2024-11-20T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/11\/20\/jadwa-investment-reaches-sar-1-bn-first-close-for-new-gcc-pe-fund\/"},"modified":"2024-11-20T00:00:00","modified_gmt":"2024-11-20T00:00:00","slug":"jadwa-investment-reaches-sar-1-bn-first-close-for-new-gcc-pe-fund","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/11\/20\/jadwa-investment-reaches-sar-1-bn-first-close-for-new-gcc-pe-fund\/","title":{"rendered":"Jadwa Investment reaches SAR 1 bn first close for new GCC PE fund"},"content":{"rendered":"

Riyadh-based Jadwa Investment secured SAR 1 bn for a fresh GCC private <\/strong>equity <\/strong>blind pool fund<\/strong>, GCC Private Equity Fund 1, with a focus on multi-sector PE prospects across GCC markets, according to a statement<\/a>. Jadwa plans to double the fund\u2019s size to SAR 2 bn by 1H 2025, Bloomberg<\/a> said. The investment vehicle is one of the largest blind pool PE funds regulated by the Capital Market Authority, the statement added.<\/p>\n

Who paid into the first close:<\/strong> Regional sovereign wealth funds and family offices paid up the capital for the new fund, Bloomberg said. <\/p>\n

(Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n

SOUND SMART- Blind pool funds? <\/strong>Limited partners in blind funds generally don\u2019t know the companies in which the fund manager (or \u201cGP\u201d in PE-speak) will be investing. Instead, they typically invest based on a combination of the GP\u2019s track record and the investment themes, geography, approach to control, industry focus, or other particulars of the fund. It\u2019s also known as a \u201cblank check\u201d company or offering. The opposite is a transaction-specific fund, where the GP raises capital to go after specific companies. <\/p>\n

What they said:<\/strong> \u201cThe fund\u2019s blind pool structure will enable our clients to invest in a well-diversified and balanced manner, and will provide us with the flexibility to act quickly and transact seamlessly,\u201d Head of Private Equity at Jadwa Investment Elie El Khoury said.<\/p>\n

And it\u2019s already off to a strong start:<\/strong> The fund made its first three investments in retail and food and beverage, with plans to be fully deployed within three years, the statement said. The fund is working on another four investment agreements, Bloomberg added.<\/p>\n

IN CONTEXT-<\/strong> The fund has been in the works since December last year, when Jadwa first told<\/a><\/a>Bloomberg<\/a> about its plans to raise SAR 2 bn to kick off an inaugural blind pool fund. Jadwa\u2019s stated goal was to nab \u201csignificant minority stakes or larger in as many as 12 companies over the next three years,\u201d with a focus on GCC-based investments, Bloomberg said at the time. <\/p>\n

ABOUT JADWA<\/strong>- Jadawa is a regional investment management and advisory firm, with upwards of SAR 90 bn in assets under management and advisement. The outfit counts governments, local, and multinational institutional investors, family offices, and high-net-worth individuals among its client list and offers a broad range of Shariah-compliant investments. <\/p>\n","protected":false},"excerpt":{"rendered":"

Regional SWFs and family offices contributed to the fund<\/p>\n","protected":false},"author":1,"featured_media":91722,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2787],"tags":[10,1134,1079],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-91721","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-private-equity","tag-enterpriseam-ksa","tag-jadwa-investment","tag-private-equity","wpautop","entry"],"acf":{"mongo_id":"16da506d-a33a-48c0-8892-93a5bf6f64a8","order":"3","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/2\/1746.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Jadwa Investment reaches SAR 1 bn first close for new GCC PE fund","related_issue":[91716],"teaser":"Regional SWFs and family offices contributed to the fund","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/11\/.1f2661d2-af83-45ca-9607-7059c8d7d722.mp3"},"yoast_head":"\nJadwa Investment reaches SAR 1 bn first close for new GCC PE fund - 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