Investcorp has $53B assets, aims to double investments in coming years: Co-CEO

Hazem Ben-Gacem Co-CEO of Investcorp

Investcorp has assets worth $53 billion, with investments in Saudi Arabia approaching $2 billion, Co-CEO Hazem Ben-Gacem told Argaam.

On the sidelines of the China-GCC Economic and Trade Cooperation Forum, Ben-Gacem said the company aims to double its investments in the coming years and to develop a strategic plan in the near term to have assets under management (AUMs) of approximately $100 billion.

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The company's investments in Saudi Arabia are distributed across three sectors, the private sector, especially logistics, as well as pharmaceuticals, healthcare, and technology sectors, in addition to investments in the real estate and infrastructure sectors.

Investcorp invested in the infrastructure sector through establishing one of the most important infrastructure investment platforms in Saudi Arabia and the GCC.

The company purchased a $40 million air-conditioned warehouse in the Eastern Province, which will strengthen its investments in the Kingdom's logistics and warehouse sector.

Commenting on the sectors that will witness investment opportunities amid high-interest rates, Ben-Gacem said the investment program will be one of these significant opportunities, as it will be developed in partnership with the private sector, especially the infrastructure sector.

Investcorp pays attention to investment in all regions, including the Eastern Province, NEOM, Jeddah, and Riyadh, as well as other regions in the Kingdom.

The company invested strongly in several Saudi and global sectors, Ben-Gacem said, noting that it plans to make further investments in the technology and healthcare sectors.

Regarding investments in China, the top executive said that the company invested nearly $1 billion in the healthcare and renewable energy sectors over the past five years.

Ben-Gacem expected Investcorp to have future investments in Chinese companies that aim to open factories and offer job opportunities in the GCC region.

Commenting on plans for listing on the Saudi market, he said four of the company's subsidiaries were listed on the Saudi market, including BinDawood Holding Co., Leejam Sports Co. (Fitness Time), Theeb Rent a Car Co., and Lazurde Company for Jewelry.

He added that the company has several programs for Saudi private companies that will be listed on Tadawul in the future.