Bahrain’s Investcorp set to invest at least $500m into Saudi Arabia

      Published on Friday, 1 November , 2019      684      
Bahrain’s Investcorp set to invest at least $500m into Saudi Arabia

Bahrain-based Investcorp plans to invest at least 50 percent of its $1 billion GCC Infrastructure fund in Saudi Arabia, according to co-chief executive Hazem Ben-Gacem.

“It will focus on healthcare, education, social housing, infrastructure, roads, utilities,” he was quoted as saying by Reuters.

He added that the rest of the fund will be spent in other parts of the GCC or wider MENA region.

Among the potential projects are ports in Oman, utilities in the UAE and road infrastructure in Bahrain, Ben-Gacem said at the Future Investment Initiative forum in Riyadh.

Investcorp is one of the most prominent private equity investors in the kingdom, where it has invested $700 million in the last decade, including in Leejam Sports Co car rental copany Theeb, Saudi Fitness Centre and gold jewellery maker L’azurde.

“We have been able to find attractive investments, manage them and exit them,” he said, adding that a second, $400 million PE-MENA fund will be launched soon. The fund invests in private firms in the MENA region.

Arabian Business has reached out to Investcorp for more details on its future plans in Saudi Arabia and the wider region.

In a separate announcement, Investcorp announced that it invested $11.3 million in Intergrow Brands Private Ltd., a subsidiary of Synthite Group, the world’s largest producer of value-added spices with operations in India, the US and China.

Launched in 2014, Intergrow has an array of products ranging from packaged spices, marinades, sauces and seasonings to premium gourmet food and tea.

Category Bahrain News, Gulf News, Saudi Arabia | 2019/11/01 latest update at 11:16 AM
Source : Arabian Business | Photocredit : Google
Comments Add comment

Gulf Media

Related Articles

The editorial staff of Bahrain Today would like to give all of its readers from Gulf and Bahrain and the whole world the opportunity to participate actively in the development of the website! If you have something interesting, fun, scandalous - just something worth to be seen from more people. Capture it and share it in the Bahrain Today with a short text.

Do you have information you want to reach our readers?

Send article/s

You can subscribe to our Facebook, Twitter and Google pages or use our RSS feed channel to always read the most important news about Bahrain, the Gulf and the world.