Abu Dhabi’s Investcorp Capital has partnered with China’s sovereign wealth fund, China Investment Corporation (CIC) to invest in high-growth companies across Saudi Arabia, the rest of the countries of the Gulf Cooperation Council and China.
The platform has a target size of $1 billion and will be anchored by reputable institutional and private investors from the GCC, as well as CIC. Target companies are expected to have high growth potential in attractive sectors, including consumer, healthcare, logistics and business services.
“This commitment by CIC, one of the world’s largest sovereign wealth funds, is a testament to Investcorp’s unparalleled franchise in the GCC and reinforces the trust placed in the firm’s global platform and teams,” said Investcorp’s Executive Chairman, Mohammed Alardhi.
The Investcorp Saudi Pre-IPO Growth Fund, which is part of the platform, has already announced three investments in the GCC.
“We are working closely with Investcorp to build a similar bilateral fund to strengthen financial and industrial ties between China and GCC countries,” added Dr. Bin Qi, Executive Vice President and Deputy CIO of CIC.
Investcorp currently holds about $52 billion in assets under management. In February, Investcorp reported a net profit of $21 million for the period between July and December 2024, in its first results following its debut on the Abu Dhabi Stock Exchange (ADX) in November.
The announcement was made at Investcorp’s China-GCC Investment and Business Cooperation Summit in Riyadh.
