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Saudi fund eyes US and UK

Jadwa Investment Company is reportedly looking to invest a sizeable portion of its capital in the US and UK, and is already eyeing a £700m transaction in Britain with European property investor CIT, according to the Financial Times.

Jadwa Investment Company, the Middle Eastern investment bank part-owned by the Saudi royal family, is eyeing US and UK commercial real estate opportunities, according to the Financial Times.

Prince Faisal bin Salman bin Abdulaziz told the newspaper the firm was already targeting a £700 million ($1.1 billion: €815 million) property transaction in the UK in partnership with European investment group CIT.

Jadwa’s chief investment officer, Fadi Tabbara, told the FT the firm wanted to expand abroad to continue diversifying revenue streams so as to make them “less sporadic and more predictable”.

Brad Bourland, Jadwa’s chief economist, added: “We are focusing on areas where there is currently a favourable exchange rate, attractive asset prices and a historical connection. The US and UK markets meet these criteria the most at the moment.”

Jadwa has about $2 billion under management, around half invested in discretionary funds and the rest split between 17 third-party funds, the report said. A further two funds – focused on commodities and private equity – are planned.