PIF’s fund of funds makes first PE play

Private equity searchJada Investments, a fund of funds started by Saudi Arabia’s biggest sovereign wealth fund, has made its first foray into the private equity sector after signing an agreement with local boutique, Alpha Capital. Jada was established by the Public Investment Fund (PIF) in December 2019 with starting capital of US$1 billion and a mandate to invest in local startups. The deal with Alpha Capital will see it invest in growth-stage small and medium companies in the kingdom’s food and beverage sector. “This investment agreement marks Jada’s first investment in private equity funds, having previously invested in several venture capital funds,” said Adel Al-Ateeq, chief executive at Jada Investments. “It is a clear indication of our confidence in the fund’s investment team at Alpha Capital to implement the investment strategy in accordance with global private equity best practices.” © 2020 funds global mena

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