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May 23, 2022

Saudi sovereign wealth fund takes stake in Kingdom Holding Company

Saudi Arabia’s sovereign-wealth fund has purchased a $1.5bn stake in Kingdom Holding Company (KHC), an investment firm owned by Saudi Arabia’s billionaire Prince al-Waleed bin Talal.

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Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

Following the deal, The Public Investment Fund (PIF) will own 16.9% of KHC while prince Alwaleed will retain a 78.1% holding.

The remaining 5% of the stock will remain listed on the Saudi bourse.

KHC CEO Talal Al-Maiman said the deal is in line with the strategy of the Saudi PIF to invest in renowned companies around the world.

The deal reflects the strength and prominence of KHC being a pioneer with its local, regional and global investments, he said.

KCH invests across 18 sectors across the six continents with assets exceeding $13.3bn (SAR50bn).

Alwaleed is said to be a high profile Saudi investor with stakes in companies including Citigroup and Apple.

He was detained by the state over corruption allegations in 2017 and was later released, according to a Bloomberg report.

He invested about $270m in music streaming service Deezer. Last year, he sold a stake in his Rotana Music label to Warner Music Group Corp.

He also sold a part of his stake in the Four Seasons hotel chain to Bill Gates’ Cascade Investment for $2.2bn.

Alwaleed is also said to own a stake in Twitter.

Moves in Saudi Arabia by other firms

Recently, Northern Trust named Kholoud Al Dosari as the country head for the firm in Saudi Arabia to oversee the strategic development, business growth and operations of the firm’s asset servicing business in the country. This

February, Deutsche Bank reportedly hired a Geneva-based team of three from rival Credit Suisse to serve its ultra-rich clients in Saudi Arabia.

Free Report
img

Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

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