PPA, GOSI merged entity’s assets to exceed $250 bln: report

Saad Al-Fadly, CEO of Hassana Investment Co.

The entity formed following the merger of the General Organization of Social Insurance (GOSI) and the Public Pension Agency (PPA) will boast assets of over $250 billion, Bloomberg reported, citing Saad Al-Fadly, Chief Executive Officer (CEO) of Hassana Investment Co.

Hassana is the investment management arm of GOSI.

“The merger will strengthen the position of the fund, enhance performance, and position GOSI as one of the top 10 pension plan investors in the world,” Al-Fadly said.

The funds will conduct a review of investment strategy as part of the merger process, the CEO said. “Returns have been really good, and we hope that will continue,” he noted.

Last week, Saudi Arabia’s Cabinet approved merging PPA into GOSI, Argaam reported.

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