backA cross-office team of King & Spalding lawyers has advised Jadwa Investment Company (Jadwa) on the launch of Jadwa GCC Private Equity Fund 1, a Saudi domiciled investment fund targeting up to SAR 2 billion (~US$533 million) in capital commitments. The fund will invest in a diversified portfolio of high-potential private equity opportunities across the countries of the Gulf Cooperation Council (GCC) with a focus on driving transformative growth across key sectors, including healthcare, retail, food and beverage, hospitality, logistics, energy, and industrials.
The fund operates on a Shari’ah compliant basis and is regulated by the Saudi Arabian Capital Market Authority (CMA) (and is one of the largest blind pool funds registered with the CMA). Investors in the fund include sovereign entities (including Jada Fund of Funds and Saudi Venture Capital Company) and regional and international institutional investors and family offices. With over SAR 90 billion assets under management, Jadwa is one of the leading asset managers in the GCC region. Building on its established track record since its inception in 2007, Jadwa has previously launched over 15 single-asset private equity funds, but this landmark fund is Jadwa’s highly-anticipated first blind-pool private equity fund. The fund represents a significant milestone in Jadwa’s continued leadership in the regional private equity space.
The King & Spalding team advising Jadwa included lawyers in Riyadh and Dubai and was led by James Stull and Sayf Shuqair and included Nabil Issa, Dounia Mansour, Husam Alhmary and Salma Alheraiqi. Tax advice was provided by John Green (Washington, D.C.), while Christine Savage, Shaswat Das, and Michelle Story (all Washington, D.C.) provided sanctions and regulatory advice.