RIYADH: US private equity firm Warburg Pincus is exploring financial opportunities in Saudi Arabia through an agreement signed with Hassana Investment Co., reinforcing their strategic partnership.
According to a press release, the alliance aims to strengthen the two firms’ commitment to identifying and investing in high-growth sectors across various asset classes.
Many US businesses are exploring investment opportunities in Saudi Arabia, driven by the Kingdom’s expanding sectors, such as energy, tourism, and healthcare.
With $7 trillion in government spending planned for Vision 2030 projects, the nation offers significant potential for US companies looking to expand and invest.
“Through this collaboration, both firms will leverage their respective expertise to explore and execute investment opportunities that contribute to the Kingdom’s long-term economic growth,” the statement said.
The memorandum of understanding was signed during a roundtable discussion held at the Ministry of Investment and attended by the Assistant Minister, Chief Investment Officer for Regional Markets at Hassana, and CEO of Warburg Pincus.
Hani Al-Jehani, chief investment officer for International Markets at Hassana, said: “Our relationship with Warburg Pincus in international markets is a decade-long partnership, and we look forward to extending the partnership to consider potential opportunities in the Kingdom of Saudi Arabia.”
Al-Jehani noted that Warburg Pincus has “deep expertise” in several domains that align with the economic goals of the Kingdom and is entrusted by limited partners globally to manage their assets.
“At Hassana, we look forward to expanding our cooperation to explore potential investment opportunities in the Kingdom, as it is witnessing economic transformations that reflect the objectives of Saudi Vision 2030, contributing to creating an attractive investment environment for local and international investors,” he added.
CEO of Warburg Pincus, Jeffrey Perlman, added: “We see incredible investing opportunities in the Middle East. This agreement reflects our shared commitment to support growth in the Kingdom of Saudi Arabia.”
Perlman emphasized that the partnership deepens the relationships between the two regional firms and allows them to identify strong investment opportunities and management teams “looking for their next chapter of growth.”
Hassana Investment Co. is the investment manager for the General Organization for Social Insurance in Saudi Arabia. Managing one of the world’s largest pension funds with over SR1.2 trillion ($300 billion) in assets, Hassana focuses on long-term growth strategies to secure future retirement pensions for Saudi generations.
Founded in 1966, Warburg Pincus has $86 billion in assets under management and more than 230 active portfolio companies across various stages, sectors, and geographies, according to the press release.
