Bahrain-based alternative investment manager Investcorp has launched a pre-initial public offering (IPO) fund targetting Saudi companies.
Investcorp is hoping to raise US$500 million from the fund and will initially focus on high growth businesses in the healthcare, consumer, transport and logistics sectors.
According to the firm, the fund will “provide investors with an opportunity to gain exposure to growing and market-leading businesses in the kingdom”, a market that Investcorp believes is underserved.
Investcorp, which has private equity arm, has to date listed four Saudi businesses on the Tadawul.
The launch comes a month after the Abu Dhabi government launched an IPO fund in a bid to boost liquidity on the Abu Dhabi Securities Exchange and attract more international investors.
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