Home / News / Kingdom Holding & CDC France’s SWF Announce Launch of USD 400M Fund

Kingdom Holding & CDC France’s SWF Announce Launch of USD 400M Fund

June 26, 2015

Kingdom Holding Company (“KHC”), chaired by HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, announces the signing of a memorandum of understanding with  Caisse des Dépôts International Capital (“CDCIC”) on Friday 26/6/2015.  The memorandum of understanding intends to commence discussions on the establishment of an investment fund by KHC and CDCIC which will jointly managed by both parties.

 

After establishment of the investment fund, each of KHC and CDCIC will contribute SAR 375 million (USD 100 million) to the Fund. As a later step, third party investors will be invited to invest a total amount of SAR 1,125 million (USD 300 million) and CDCIC has already committed to contribute SAR 375 million (USD 100 million) for such second round.  After both rounds the total value of the fund will be SAR 1,500 million (USD 400 million).

 

The investment strategy of the investment fund will be to seek attractive investment opportunities in small and medium size enterprises in the Kingdom of Saudi Arabia with the participation of large French corporates, in addition to diversifying KHC’s investment portfolio.  

 

This partnership between KHC and CDCIC reflects the strong economic ties between The Kingdom of Saudi Arabia and the Republic of France. Furthermore, this partnership further affirms to Saudi Arabia’s sound economy and KHC’s strong position as a global investment company.

 

KHC shall announce any material developments in this matter as they come up. 

 

Founded in 1980, KHC is a publicly traded company which was listed on Tadawul (the Saudi Stock Exchange) in 2007. KHC is one of the world’s most successful and diversified business organizations, highly respected in the field of investments and recognized as an elite player in the Arabian Gulf region, and internationally. The Company is recognized as one of the largest foreign investors in the United States. KHC’s portfolio has its major interests in investment categories ranging from luxury hotels management hotel companies (Four Seasons Hotels and Resorts, Fairmont Raffles Holding Intl and Mövenpick Hotels, Resorts AG and Swissotel) and real estate (Kingdom Tower and project in Jeddah and Kingdom Riyadh project) to hotel real estate investments such as (The Plaza, New York, Savoy Hotel, London and Four Seasons, George V Hotel, Paris and other hotels). KHC also has investments in Petrochemical (Tasnee) Media and Publishing (News Corporation and Saudi Research and Marketing Group), as well as in Entertainment (Euro Disney S.C.A). In addition, Finance and Investment services (Citigroup), Social Media and Technology (Twitter and Jingdong). Moreover, the Company has investments in Education (Kingdom Schools), Health Care (Medical Services Projects Company), Aviation (NAS Saudi Arabia) and Agriculture (Kingdom Agricultural Development Company – KADCO Egypt).