PHOTO
Saudi Arabia-based Jadwa Investment on Tuesday announced first close for its first regional blind-pool private equity fund, GCC Private Equity Fund 1, with total capital commitments of 1 billion riyals ($266 million).
The fund aims to invest in a diversified, cross-sectoral set of private equity opportunities across the GCC.
The fund has already completed its first three investments across the retail and food and beverage sectors and is expected to be fully invested over a three-year deployment period.
Blind-pool funds are uncommon in the Middle East where funds have traditionally been structured in the form of single-asset investment vehicles. Shariah-compliant Jadwa has had 16 single-asset private equity funds since inception.
(Writing by Brinda Darasha; editing by Daniel Luiz)
