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Warburg Pincus LLC has teamed up with Saudi Arabia’s $300 billion pension fund Hassana Investment to pursue investment opportunities in the kingdom.
The New York-based private equity company with more than $86 billion in assets under management, joins a slew of Western investment firms, including General Atlantic, Bain Capital and Ardian, that have launched or ramped up operations in the oil-rich kingdom.
Hani Al-Jehani, Chief of Investment Officer said Hassana has a decade long partnership with Warburg Pincus in the international markets and “we look forward to extending the partnership to consider potential opportunities in the Kingdom of Saudi Arabia. Warburg Pincus has deep expertise in several domains that align with the economic goals of the kingdom and is entrusted by LPs globally to manage their assets."
Hassana is the investment arm of the General Organization Social Insurance (GOSI) and is the world's largest pension fund. Its portfolio includes Dubai-based ports operator DP World and Aramco Gas Pipeline Company.
Last year, it backed allocated $500 million to Brookfield Asset Management’s new $2 billion Middle East fund, in which the Saudi sovereign wealth fund the Public Investment Fund is an anchor investor.
Hassana also said it planned to become an anchor investor in a $1 billion Middle East-focused fund launched by US investment firm EIG, allocating up to $250 million for the fund, which will target infrastructure and energy transition projects.
(Reporting by Brinda Darasha; editing by Daniel Luiz)
