Investcorp Launches a USD 1 billion Platform, To Be Anchored by China Investment Corporation, to Invest in the GCC and China

24 Apr 2024

Investcorp, a leading global alternative investment firm, and China Investment Corporation (“CIC”), one of the world’s largest sovereign wealth funds, have today announced the launch of “Investcorp Golden Horizon” to invest in high-growth companies across Saudi Arabia, the rest of the countries of the Gulf Cooperation Council (the “GCC”) and China (the “Platform”).

The Platform has a target size of USD 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. The Investcorp Saudi Pre-IPO Growth Fund, which is part of the Platform, has already announced three investments in the GCC.

This anchor commitment from CIC to the Platform comes at a time when the GCC’s appeal to institutional investors is gathering pace, thanks to its stable regulatory environment and its pro-business policies, including its economic diversification drive and strategic privatisation mandates.

Investcorp’s Executive Chairman, Mohammed Alardhi, said: “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. We are looking forward to building on this relationship and growing our partnership in the future.”

Dr. Bin Qi, Executive Vice President and Deputy CIO of CIC, said: “As one of the world’s largest sovereign wealth funds, CIC has been actively investing in both developed and emerging economies. During the past couple of years, we have built several bilateral funds with leading financial institutions to facilitate industrial cooperation between China and major economies in the world. Currently we are working closely with Investcorp to build a similar bilateral fund to strengthen financial and industrial ties between China and GCC countries.”

Hazem Ben-Gacem, Co-CEO of Investcorp, commented, “We’re delighted to be partnering with CIC to participate in the economic transformation and investment opportunities presented across the GCC. As a leading global alternative asset manager with roots in the GCC and a 40+ year track-record across multiple asset classes, Investcorp is perfectly placed to facilitate cross border cooperation and investments between the GCC and China. This is the first step in what we expect to be a fruitful relationship and we look forward to making significant positive impacts on businesses in both regions.”

The announcement of the Platform’s launch was made today at the Investcorp’s China-GCC Investment and Business Cooperation Summit in Riyadh.