Gulf Islamic Investments (GII), the UAE-headquartered Shari’ah-compliant alternative investment company, has expanded its footprint in Saudi Arabia with the acquisition of a Saudi Capital Market Authority (CMA) licensed entity.

Following the acquisition, GII’s operations in Saudi will now include corporate finance advisory, investment fund and asset management, private equity, and structured finance. The company stated its regulatory licences permit dealing as principal, agent, and underwriter, arranging and advising of financial offerings, and managing investment funds. 

GII added its investment licence in the kingdom, under the name Gulf International Investment Company, will create new opportunities to expand its business in the country through investments in local companies, and foster new investment and asset management partnerships from its Riyadh office.

With over $4.5 billion of assets under management (AUM), GII’s existing investments within Saudi include a majority share in the Al Meswak Dental Clinics, co-partnering with Jadwa Investment Management and Advisory Firm, a stake in the Abeer Medical Company and other Saudi food processing acquisitions nearing completion.

Mohammed Alhassan, co-founder and co-CEO of GII Group, said the company is keen to grow its presence in the kingdom through acquisitions and co-investments with Saudi and other GCC investors.

(Writing by Bindu Rai, editing by Seban Scaria)