Saudi private equity firm Amwal Alkhaleej aims to raise up to $500m in a new fund that will launch in 2011 and will focus mainly on its home market, its chief executive said on Monday.
The money would be raised locally but also from international institutional investors, Chief Executive Ammar Alkhudairy said.
“More than 50 percent will be invested in Saudi, the rest in Egypt, the UAE and other GCC countries,” he said.
The company is currently also considering two investments, one in Egypt and one in Saudi Arabia, Alkhudairy said, without naming the target companies.
“These are sizeable minorities. Our sweet spot is between $20m and $50m.”
The company’s two previous funds were worth $250m and $330m. (Reuters)
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