20 Jun 2022
Investcorp, a leading global alternative investment firm, announced the appointment of Mashaal AlJomaih as Managing Director of Investcorp’s Private Wealth for the KSA market, who will be based in Riyadh.
Yasser Bajsair, CEO of Investcorp KSA, commented: “We are delighted to welcome Mashaal, who brings with him over 20 years of experience in investment banking. His deep knowledge and understanding of Saudi Arabia’s market, which is a key market for Investcorp, as well as his experience in wealth management, make him ideal for this role. We believe the economic transformation of the Kingdom and the evolution of the family business model have created opportunities to establish higher value and larger scale businesses that require complex and sophisticated processes and enhanced management capabilities. As Managing Director for Private Wealth, Mashaal will also support the expansion of our client base in Saudi Arabia.”
Since 2008, Investcorp has been one of the most active private equity players in Saudi Arabia, deploying about $1.4 billion across 16 investments in diverse sectors. The group has supported a number of leading family businesses in their journey towards going public on the Saudi Stock Exchange (“Tadawul”).
On his appointment, AlJomaih said: “I am excited to be joining Investcorp at this time in its growth journey and I look forward to helping lead the expansion of the firm’s footprint in Saudi Arabia. The Kingdom is an incredibly exciting and dynamic market with a wealth of opportunities emerging as its economy diversifies. Investcorp has an excellent opportunity to capitalize on this transformation and I am focused on implementing a strategy that delivers growth and value for our shareholders, stakeholders and the communities within which we operate.”
Investcorp recently launched a dedicated $500 million pre-IPO vehicle to primarily partner with Saudi family businesses aspiring to go public with a focus on four industry verticals: consumer, healthcare, transport and logistics, and business services. The firm also entered into a joint venture with abrdn plc, Aberdeen Standard Investcorp Infrastructure Partners, aimed at participating in the economic transformation in the GCC and the wider MENA region by investing in sustainable core infrastructure projects.
Prior to joining Investcorp, AlJomaih held senior positions at BNP Paribas Investment Company, JP Morgan Chase. He also co-founded a UK based real estate consulting company. He holds a BSc in Business Administration from King Saud University, KSA. He also holds an MBA, Finance and MIS concentration from Clark University, Worcester, Massachusetts. He also attended the Young Managers Program at INSEAD, France.