Kingdom Holding, France’s SWF to launch SAR 1.5 bln fund

28/06/2015 Argaam

Kingdom Holding Company (KHC), chaired by Saudi billionaire Alwaleed Bin Talal, said on Saturday that it has inked a memorandum of understanding with France’s Caisse des Dépôts International Capital (CDCIC) to discuss the establishment of a jointly-managed SAR 1.5 billion fund ($400 million).


KHC and the investment arm of France's sovereign wealth fund will each contribute SAR 375 million ($100 million) to the fund, KHC added in a statement obtained by Argaam.

International investors will be invited to inject the remaining investments of SAR 1.125 billion ($300 million).


The fund, along with major French companies, will eye attractive investment opportunities in Saudi Arabia, including small and medium enterprises (SMEs). It will also diversify KHC’s investment portfolio, the Saudi-based company added.

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