Edmond de Rothschild launches a debt strategy for infrastructure in Saudi Arabia with Watar Partners and in collaboration with SNB Capital
13 JUN, 2024
Edmond de Rothschild has announced today the launch of an innovative infrastructure debt strategy in Saudi Arabia and the signing of an agreement with the leading Saudi asset manager, SNB Capital. Edmond de Rothschild also announced its plans to establish a presence in Saudi Arabia in collaboration with Watar Partners, a leading independent firm in financial services.
The infrastructure debt team of Edmond de Rothschild is one of the main players in Europe, with over 5,000 million euros in assets under management in this type of investment in 18 countries. The local partner of the joint venture, Watar Partners, brings a multidisciplinary team of financial services with experience in advising a wide base of Saudi clients.
As a first step, Edmond de Rothschild is trying to establish a new infrastructure debt fund platform designed to play a crucial role in financing projects throughout Saudi Arabia, in line with the country's Vision 2030 program, which sets far-reaching goals for the development of local infrastructure in key areas such as transport, energy, energy transition, digital, social, public services and the circular economy.
This investment platform will provide complementary liquidity to existing equity and senior debt instruments and will be structured together with SNB Capital. This firm offers a deep understanding of the region's financing needs and its ambitious multi-trillion dollar infrastructure program.
Local presence through a joint venture with Watar Partners
Edmond de Rothschild and Watar Partners also announce the creation of a joint venture to expand Edmond de Rothschild's expertise in infrastructure debt investment in the region. Planned for the second half of 2024, the joint venture will focus on providing infrastructure debt solutions and offering advisory services on the matter to Saudi family offices and institutional investors. It plans to open a local office in Riyadh in the second half of 2024 and hire local resources.
The launch of the strategy and the creation of the joint venture are subject to obtaining the necessary licenses and regulatory approvals.
I am greatly pleased to establish a presence for Edmond de Rothschild in the Kingdom of Saudi Arabia through this partnership with SNB Capital and Watar Partners. This is a logical step for our group, based on the business relationships we have long maintained with the country. Edmond de Rothschild brings an excellent track record in infrastructure debt in Europe. I am confident that this experience will benefit the realization of the Vision 2030 program, which aligns perfectly with our mission to foster growth and sustainable development around solid roots and heritage. We look forward to contributing to the future development of the country's infrastructure and increasing our long-term presence to serve this important market".
Ariane de Rothschild, CEO of Edmond de Rothschild
We are delighted to collaborate with Edmond de Rothschild as the investment house deepens its relationship with Saudi Arabia. As the largest asset manager in the Kingdom and the Middle East, SNB Capital is prepared to unlock growth opportunities in the infrastructure space, from transportation to renewable energies, and we are confident in driving sustainable impact and creating a local growth engine that supports the ambitious goals of Vision 2030. The strategic international relationships that allow us to continue playing our role in fostering innovation and financial solutions are fundamental to our strategic objectives and we value partners who share our vision for achieving enduring market development.
Rashed Sharif, CEO of SNB Capital
We are greatly pleased to partner with one of the most famous financial franchises in Europe. Edmond de Rothschild is a name that comes with a great reputation and heritage, as well as sophisticated investment expertise. I am firmly convinced that Edmond de Rothschild will bring the knowledge and experience we need to fulfill the plans of the Kingdom of Saudi Arabia's Vision 2030 objectives."
Abdulwahab A. Al Betairi, Managing Partner of Watar Partners
