Mubasher: Bahrain-based alternative asset manager Investcorp partnered with China Investment Corporation (CIC) to launch Investcorp Golden Horizon, with a target size of $1 billion.
The platform aims to invest in high-growth companies across China, Saudi Arabia, and other countries in the GCC region, according to a press release.
Investcorp Golden Horizon will be supported by reputable institutional and private investors from the GCC, as well as CIC.
The target companies are expected to have high growth potential in promising sectors, including consumer, healthcare, logistics, and business services.
The Investcorp Saudi Pre-IPO Growth Fund, which is part of the platform, unveiled three investments in the GCC region.
The Executive Chairman of Investcorp, Mohammed Alardhi, said: “We are looking forward to building on this relationship and growing our partnership in the future.”
Bin Qi, Executive Vice President and Deputy CIO of CIC, noted: “During the past couple of years, we have built several bilateral funds with leading financial institutions to facilitate industrial cooperation between China and major economies in the world.”
“Currently we are working closely with Investcorp to build a similar bilateral fund to strengthen financial and industrial ties between China and GCC countries,” he added.
Hazem ben Gacem, Co-CEO of Investcorp, commented: “This is the first step in what we expect to be a fruitful relationship and we look forward to making significant positive impacts on businesses in both regions.”
Last month, the listed company led a $130 million pre-IPO funding round in Saudi SaaS e-commerce enablement platform Salla.
