Edmond de Rothschild is launching an infrastructure debt strategy in Saudi Arabia and has partnered with Watar Partners to establish a presence in the country.
The CHF163bn (€168.5bn) asset manager’s infrastructure debt arm has teamed up with local asset manager SNB Capital to establish the new platform designed to finance infrastructure projects across Saudi Arabia.
“This investment platform will bring complementary liquidity to existing equity and senior debt instruments and will be structured alongside SNB Capital,” Edmond de Rothschild said.
As part of a plan to establish a presence in Saudi Arabia, Edmond de Rothschild is also creating a joint venture with financial services firm Watar Partners to help expand Edmond de Rothschild’s infrastructure debt investment expertise within the region.
The joint venture – which plans to open an office in Riyadh and hire a local team – will focus on offering infrastructure debt solutions and providing infrastructure debt advisory services to Saudi family offices and institutional investors.
Ariane de Rothschild, CEO of Edmond de Rothschild, said: “I am extremely pleased to establish a presence for Edmond de Rothschild in the Kingdom of Saudi Arabia through this partnership with SNB Capital and Watar Partners. This is a logical next step for our group, building on the longstanding business relationships we have with the country.”
“Edmond de Rothschild brings an excellent track record in infrastructure debt in Europe. I am confident that this expertise will benefit the realisation of the Vision 2030 programme, which aligns perfectly with our mission to foster sustainable growth and development built around strong roots and heritage.”
Rashed Sharif, CEO of SNB Capital, said: “As the largest asset manager in the Kingdom and the Middle East, SNB Capital is poised to unlock growth opportunities in the infrastructure space spanning from transportation to renewable energy, and we are confident that we will drive sustainable impact and create a local growth engine supporting Vision 2030’s ambitious goals.
“Strategic international relationships that enable us to further play our role in fostering financial innovation and solutions are core to our strategic objectives and we value partners who share our vision to achieve enduring market development.”
Abdulwahab A Al Betairi, managing partner at Watar Partners, said: “We are extremely pleased to be partnering up with one of Europe’s most famous financial franchises. Edmond de Rothschild is a name that comes with a lot of reputation and heritage, as well as sophisticated investment expertise.
“I am firmly convinced that Edmond de Rothschild will provide the expertise and experience we need to meet the plans of the Kingdom of Saudi Arabia’s Vision 2030 goals.”
Launched in 2016, Saudi Arabia’s Vision 2030 programme is a wide-ranging plan to modernise the country’s economy, society, and culture. The plan includes goals for local infrastructure development across key areas such as transport, energy, energy transition, digital, social, utilities, and the circular economy.
To read the latest IPE Real Assets magazine click here.
