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Saudi Arabia: SEDCO Capital with SR11bn asset portfolio launched

JEDDAH: SEDCO Capital was formally launched on Monday as a new wealth management company focusing on super and ultra high net worth individuals, sophisticated institutional investors and family offices.

"This follows the license granted by the Saudi Arabian Capital Market Authority last year," Abdelelah bin Mahfouz, chairman of SIDCO Capital , told a press conference.

"Partnering with our clients is our approach at SEDCO Capital ," he said, adding that SEDCO Capital was founded by SEDCO Holding to share its access to opportunities, investment advice and professional services with other investors seeking innovative wealth management solutions in Saudi Arabia and across the globe.

"Furthermore, endorsing our commitment to partnership SEDCO Group of companies will serve as a sizable co-investor in the investment opportunities that SEDCO Capital brings to market," he added.

SEDCO Capital , headquartered in Jeddah, is a member of SEDCO Holding Group of companies, which was founded in 1976 and is owned by the Bin Mahfouz family, one of the most illustrious banking families in Saudi Arabia.

Already strongly established as a global player, SEDCO Capital manages, advises, monitors and reports on an investment portfolio with a strategic asset allocation amounting to SR11 billion.

The portfolio covers public equity, private equity, international real estate, sukuk, commodities and the development of income generating local real estate.

SEDCO Capital exercises strict corporate governance through strong controls and management processes.

In addition, all business is conducted entirely according to Shariah principles.

Recognized globally as a leader in Shariah-compliant financial products, SEDCO Group worked with Dow Jones in 2001 to make available the extensive family of Shariah-compliant indices that is used to benchmark Shariah-compliant equity managers today.

" SEDCO Capital 's team, which previously worked for SEDCO Group , and has successfully managed the wealth of the Bin Mahfouz family since 1996, now puts its global wealth management expertise at the service of investors who wish to participate as partners," SEDCO Capital 's CEO Hassan Al-Jabri said.

"In fact," he added, "partnership is at the heart of SEDCO Capital . Our mission is to take care of our clients' wealth and to add value without taking excessive risks."

SEDCO Capital 's team of 26 CMA registered professionals, who together have more than 500 years of experience in asset management, provide our clients with sustainable growth and good returns by applying the proven investment process and risk controls that it has perfected over time to select best-in-class products and opportunities from across the globe.

"To complement our Saudi-based team, we have built a global network of investment relations with more than 100 managers around the world specializing in public equity markets, private equity space and real estate investments. We believe this combination of local and international expertise allows SEDCO Capital a wider range of options to fulfill the individual needs of our clients," Al-Jabri said.

Launched at a time when Saudi Arabia is enjoying great prosperity and economic stability, SEDCO Capital is strongly positioned to make a highly important contribution to consolidating the Kingdom's wealth by preserving and growing it for future generations.

Asked for the opportunities available for the new company against the background of global economic slowdown and unrest in some parts of the Middle East, Michael F. Green, chief investment officer at SEDCO Capital , said: "There are also other factors affecting the world economy like the crisis in the wake of the Japanese earthquake and rising oil prices, but we will be looking at all the economic indicators while serving our clients, whether national or international."

© Arab News 2011