SEDCO Capital, a leading Saudi asset management firm, has announced the successful closing of the SEDCO Capital Real Estate Income Fund II (SCREIF II), its second Real Estate Income Fund with SR 445 million in commitments from more than 35 investors including public and private sector companies, foundations, endowments, Saudi and GCC Banks and select high net worth individuals.
This fund continues SEDCO Capital’s strategy in providing unique and well managed real estate investment products to investors. The Fund’s strategy is focused on acquiring quality commercial assets in the Kingdom and actively managing a diversified portfolio that will generate annual distributions and potentially capital growth in the future at exit.
The closing of SCREIF II is another significant milestone for SEDCO Capital and highlights the success of our products as well as the market’s reception of our investment philosophy where our business relationships are always built on the partnership model – ensuring transparency, building mutual trust, and sharing success.” said Hasan Al-Jabri, Chief Executive Officer of SEDCO Capital. “The market is providing us with compelling investment opportunities. We are sourcing investments with attractive returns, good equity multiples and most importantly strong downside protection.”
“With a keen focus on strong management functions and a value-oriented approach to new investment products, SEDCO Capital has emerged as a leading international player in the real estate investment sector both regionally and internationally.” He added.
SEDCO Capital’s real-estate portfolio in Saudi Arabia has grown to include 13 assets under the SEDCO Capital Real Estate Income Fund I (SCREIF I) and SEDCO Capital Real Estate Income Fund II (SCREIF II) – with a portfolio value of approximately SAR 1.0billion.