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Edmond de Rothschild Group, which specialises in asset management and private banking, is teaming up with SNB Capital and Watar Partners to launch a infrastructure debt strategy in Saudi Arabia where the Saudi Vision 2030 program is driving a trillion-dollar infrastructure programme.
The Switzerland-based investment firm is looking to establish a new infrastructure debt fund platform designed to play a crucial role in financing infrastructure projects.
"This investment platform will bring complementary liquidity to existing equity and senior debt instruments and will be structured alongside SNB Capital," a statement said on Thursday.
It also announced the setting up of a joint venture with Watar Partners, an independent financial services firm, in the second half of 2024, which will offer infrastructure debt solutions and debt advisory services to Saudi family offices and institutional investors.
A local office is planned to be inaugurated in Riyadh in the second half of 2024, and local resources will be hired.
The investment firm has obtained a licence from the Dubai International Financial Centre (DIFC) early last year to grow its presence and client base in the oil-rich region.
Last month, BlackRock, the world’s largest asset manager with $10 trillion in assets under management, said it will launch an investment platform in the kingdom backed by a $5 billion anchor investment from the sovereign wealth fund, the Public Investment Fund.
(Reporting by Brinda Darasha; editing by Seban Scaria)
