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Al Rajhi Capital, the investment banking subsidiary of Saudi Arabia's Al Rajhi Bank, and Arcapita Bank, an international investment firm headquartered in Bahrain, announced the launch of a $500 million fund, the ARC Real Estate Income Fund.
This fund represents the first collaboration in private equity between Al Rajhi Capital and Arcapita and the two companies will seed the fund with a joint investment of $50 million.
They will combine their resources and expertise to source and acquire investments for the fund in high-quality, income-generating real estate assets in Saudi Arabia and other GCC_countries. The focus will be towards logistics warehouses, as well as healthcare and education related assets.
Jorge Cantonnet, managing director and head of private equity at Al Rajhi Capital, said: "As the economic downturn shows signs of bottoming out, we are beginning to see good opportunities for investors with available capital for investment.
"We believe that this fund is launching at a time that will allow us to deploy our financial resources to gather a portfolio of prime real estate assets at attractive valuations."
