Investcorp, a leading global provider and manager of alternative investments, has announced the appointment of Phil Yeates as the managing director to head its European credit funds business, a newly created venture of Investcorp Credit Management (ICM).
The London-based official will oversee the structuring and fundraising for closed-ended credit funds and separately managed accounts in Europe.
He will report to Jeremy Ghose, head of ICM, the firm’s global credit investment business.
Yeates joins ICM following 24 years at Rothschild & Co., where he was instrumental in establishing and developing the global credit management business.
He brings with him an experience of over three decades in debt capital markets. He started his career in corporate debt at Hill Samuel Merchant Bank and NatWest Markets.
Commenting on the appointment, Ghose, said: “We are delighted to welcome Phil Yeates to the team, who has extensive market experience and a strong track record. Since our business was acquired by Investcorp in March, 2017, ICM has continued to show stability and growth as a well-established, diverse and global alternative credit manager. We look forward to expanding our platform and product offering, creating new opportunities for our investors as part of Investcorp’s long-term growth strategy.”
Investcorp appoints Yeates as managing director in credit management
Investcorp appoints Yeates as managing director in credit management
Sulaiman Al-Rajhi Endowment projects worth SR8bn launched in Makkah
Sulaiman Al-Rajhi Real Estate Company has announced the launch of several real estate projects belonging to the Sulaiman Al-Rajhi Endowment system in Makkah, with a total investment exceeding SR8 billion ($2.1 billion). These projects include commercial, residential, and hospitality developments, as well as strategic land plots, as part of the company’s commitment to supporting the Kingdom’s real estate sector and enhancing the quality of life in the holy city.
The announcement was made during a field tour by a delegation of high-level officials including Saleh Al-Rasheed, CEO of the Royal Commission for Makkah City and Holy Sites; Ihsan Bafakih, chairman of the board of directors of Sulaiman bin Abdulaziz Al-Rajhi Holding Company; Haitham Al-Fayez, chairman of Sulaiman Al-Rajhi Real Estate Company and CEO of Sulaiman Al-Rajhi Holding Company; Moath Al-Mukhudub, managing director and CEO of Sulaiman Al-Rajhi Real Estate Company; and Anas Mansour Abadi, CEO of real estate at Sulaiman Al-Rajhi Holding Company and representative of the Sulaiman Al-Rajhi Endowment, alongside members of the board of directors of both the holding and real estate companies and the executive team.
The tour included the launch of the Tilal Towers project, with an investment value of SR2 billion, featuring more than 2,500 hotel rooms, strengthening the hospitality sector in Makkah.
The delegation also visited the Tilal Village project, valued at SR2.8 billion. It is one of the prominent qualitative projects within the hospitality ecosystem in Makkah.
Furthermore, the visit covered the residential buildings within Tilal Village, comprising 828 units, with an investment of SR800 million. The delegation inspected the specialized hospital, medical complex housing, and the office and commercial plazas.
During the tour, a contract was signed for the Al-Rajhi Center project, valued at SR250 million, as part of a comprehensive rehabilitation plan.
The inspection also included the Al-Ukayshiyyah land, spanning 4 million square meters, and the Al-Ghazzawi project land, valued at SR250 million.
The tour concluded with prayers at the Aisha Al-Rajhi Mosque, the second-largest mosque in Makkah after the Grand Mosque, with a capacity for 50,000 worshippers.
This visit underscores the importance of these investments, which represent a clear direction toward enhancing the management of the endowment’s assets through diversification, redevelopment, and strategic expansion, in line with the development goals of the Makkah city and Saudi Vision 2030.
Sulaiman Al-Rajhi Real Estate, a subsidiary of Sulaiman bin Abdulaziz Al-Rajhi Holding Company, continues to provide innovative solutions to elevate the real estate sector to international standards.
