Bahrain – Investcorp, a leading global provider and manager of alternative investment products – which together with Aberdeen Standard Investments, a leading global asset manager has formed a joint venture today announced that ASIIP has received a capital commitment from the Public Investment Fund (PIF) for up to 20% of the total size of the fund in advance of its anticipated first closing.
The fund has also received board approval from the Asian Infrastructure Investment Bank (AIIB) to commit US$90 million. It is expected that the fund will be joined by other global institutional investors, including: pension funds, insurance companies, endowments, family offices and private clients.
PIF, the sovereign wealth fund of Saudi Arabia, is the engine driving the economic transformation of Saudi Arabia as part of its Vision 2030 objectives. This investment is in line with PIF’s mission of building strategic economic partnerships, unlocking promising economic opportunities, and deploying patient capital to support sectors with significant long term growth potential.
ASIIP aims to participate in the economic transformation in the Gulf Cooperation Council (GCC) and the wider Middle East and North Africa (MENA) region by investing in sustainable core infrastructure projects. With Environmental and Social Governance (ESG) and United Nations Sustainable Developments Goals (UN SDG) at the heart of its philosophy, ASIIP’s mission is to deliver solutions in healthcare, education, water, mobility and digital infrastructure that will have a positive impact on communities and future generations.
Hazem Ben-Gacem, Co-Chief Executive Officer of Investcorp, said, “Today’s uncertain and challenging economic environment has created a gap between the need to develop or upgrade critical infrastructure and the resources available for such projects. For nearly 40 years, Investcorp has served as a trusted partner to our clients and communities in pursuit of our vision to enrich the lives of future generations. We believe that investing in infrastructure is critical for supporting long-term economic growth and we are proud that our joint venture with Aberdeen Standard Investments has secured this commitment from PIF and will now look to drive sustainable value for all stakeholders.”
Sami Neffati, Managing Partner of Aberdeen Standard Investcorp Infrastructure Partners, said:“PIF is one of the largest and most impactful sovereign wealth funds in the world and a driving force in Saudi’s economic transformation in line with Vision 2030, we are thrilled by our partnership. ASIIP identified significant opportunities in Saudi Arabia and the region. We are drawing on our unrivaled network of global relationships and expertise to foster foreign, regional and local investment in sustainable infrastructure that preserves the environment, and serves communities and future generations.”
Investcorp is a global investment manager, specializing in alternative investments across private equity, real estate, credit, absolute return strategies, GP stakes and infrastructure. Since our inception in 1982, we have focused on generating attractive returns for our clients while creating long-term value in our investee companies and for our shareholders as a prudent and responsible investor.
We invest a meaningful portion of our own capital in products we offer to our clients, ensuring that our interests are aligned with our stakeholders, including the communities that we operate within, towards driving sustainable value creation. We take pride in partnering with our clients to deliver tailored solutions for their needs, utilizing a disciplined investment process, employing world-class talent and combining the resources of a global institution with an innovative, entrepreneurial approach.
Investcorp has today a presence in 12 countries across the US, Europe, GCC and Asia, including India, China and Singapore. As of March 31, 2021, Investcorp Group had US $35.4 billion in total AUM, including assets managed by third party managers, and employed over 430 people from 45 nationalities globally across its offices. For further information, visit www.investcorp.com and follow us @Investcorp on LinkedIn, Twitter and Instagram.
© Press Release 2021