In a bid to take advantage of the booming growth in the GCC, Saudi private equity firm Jadwa Investment Co. is seeking to up the ante by investing SR2 billion ($532 million) in new private equity deals and listing stakes in three of its portfolio companies by 2025. The private equity firm is in advanced talks to complete two private equity deals in the next 12 months and is focusing on consumer and healthcare industries. The Riyadh-based Saudi closed joint stock company offers wide-ranging investment services with all its investments and financial services adhering to the high standards of Sharia compliance.
The decision comes close on the heels of the investment bank fully divesting its 30% stake in Saudi Arabian Oil Co.’s refining unit Saudi Aramco Base Oil, known as Luberef, following an initial public offering in Riyadh that raised SR4.95 billion. The divestment marked Jadwa’s eighth private equity exit, bringing its total private equity distributions to customers to SR11 billion. Luberef is the latest billion-dollar plus IPO in the Gulf region, bucking a global slowdown in share sales. The deal comes late in the year, when many investors typically shy away from taking on risk.