Rakiza, a fund established by Oman’s sovereign wealth fund and infrastructure fund manager Equitix, is buying a stake in a container-handling facility in the Gulf of Oman.
The fund, co-managed by Equitix and Oman Infrastructure Investment Management (OIM), is acquiring more than 31% of Oman International Container Terminal, located in the Port of Sohar, outside the Strait of Hormuz, for an undisclosed sum.
Muneer Al Muneeri, founder and CEO of Oman Infrastructure Investment Management, said: “Rakiza is well placed to invest in the port, supporting trade and helping to generate growth in the country and the wider region.
“Oman’s public policy support for privatisation and the country’s robust and transparent regulatory regime is key to Rakiza’s investment thesis and it will contribute to capital market growth, foreign direct investment, privatisation, ESG, improved governance, better investor valuations.”
Hugh Crossley, Equitix co-founder and CEO, said: “Rakiza’s unparalleled access to infrastructure projects in Oman, combined with Equitix’s strong track record, investment process, and significant resources dedicated to infrastructure investment, give Rakiza a decisive edge in achieving returns for our investors.”
Rakiza is deploying capital across core infrastructure projects at various stages of diligence and discussion. The fund’s strategy is to capitalise on the drive towards privatisation and foreign direct investment across the region, where first-mover investors, are generally able to achieve higher returns.
* A previous version of this article said Oman’s sovereign wealth fund had invested in Oman International Container Terminal, rather than Rakiza, which is co-managed by a subsidiary of Oman Investment Authority
To read the latest edition of the latest IPE Real Assets magazine click here.