GII buys licensed investment and asset management firm in KSA

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The planned expansion of Gulf Islamic Investments (GII) across the Kingdom of Saudi Arabia (KSA) has gained significant momentum with the acquisition of a Saudi Capital Market Authority (CMA) licensed entity.

GII operations in Saudi Arabia will include corporate finance advisory, investment fund and asset management, private equity and structured finance. Its regulatory licences permit dealing as principal, agent and underwriter, arranging and advising of financial offerings, and managing investment funds.

A leading Shari’ah-compliant global alternative investment group with over $4.5 billion of assets under management (AUM), GII’s existing investments within the kingdom include a majority share in the Al Meswak Dental Clinics, the largest chain of dental and dermatology centres in Saudi Arabia, co-partnering with Jadwa Investment Management and Advisory Firm, a significant stake in the Abeer Medical Company and other Saudi food processing acquisitions nearing completion. GII’s wider network of investment relationships includes international offices across the GCC, Europe, the USA and India.

Growing presence

Mohammed Alhassan, co-founder and co-CEO of GII Group, commented: “This welcome development supercharges GII’s plans to boost its operations in the kingdom, extending our recent investments in Saudi healthcare and food processing firms with the addition of a powerful investment and asset management vehicle. We remain keen to grow our presence here through acquisitions and co-investments with Saudi and other GCC investors.”

Fellow GII Group co-founder and co-CEO Pankaj Gupta, added: “We are extremely grateful to the Saudi Capital Market Authority for its rapid processing of our acquisition, through which GII can leverage its existing relationships in the Kingdom to play a wider role in Saudi Arabia’s rapidly-expanding economy. Our shareholders and investors want us to be more active in the GCC’s largest market, in which attractive investment opportunities can engender further development, increased returns and positive benefits for all.”