Business & Money | Wednesday 18 March, 2015 12:07 am |

Jadwa Investment, the leading specialist asset management and private equity firm in Saudi Arabia, today announced a fifth consecutive year of record revenues for the firm.

Total revenue for 2014 amounted to SAR 358 million, an 11 percent increase over last year’s SAR 321 million and the strongest result in Jadwa Investment’s history. Net income before impairments reached SAR 220 million, a 22 percent increase over the previous year.

“2014 was a landmark year for Jadwa Investment. We further strengthened our foundations for continued growth, validated our strategic direction, and achieved a number of important milestones for the firm,” said Tariq Al Sudairy, Managing Director and CEO of Jadwa Investment. “Our 2014 results are in line with our positive trajectory and position us well for future growth.”

Jadwa Investment chose to take a non-recurring impairment of SAR 78 million against the firm’s investment in UK real estate, resulting in a final net income of SAR 142 million.

“In order to ensure a prudent and conservative accounting treatment for our investments we decided to fully provision for the value of our investment in UK-based real estate, which has not been performing to our expectations,” said Mr. Al-Sudairy.

At the end of the year, Jadwa reached SAR 19 billion in assets under management across public equity, private equity, real estate and fixed income investments, up 15.6 percent from 2013 and including SAR 4.4 billion in new investment capital.

“With over SAR 11 billion in public equity assets under management, Jadwa Investment is today one of the largest public equity managers in the Kingdom,” said Mr. Al-Sudairy. “Over 60 percent of our total assets under management originate from institutional investors, reflecting their confidence in our ability to deliver strong, consistent performance and service.”

The firm’s private equity business also recorded a record year, with four landmark transactions including the secondary IPO of Abdulmohsen Al-Hokair Group for Tourism and Development Company and the primary IPO of Al Hammadi Company For Development and Investment, making Jadwa Investment the first private equity player to list two portfolio companies on the Saudi stock exchange.

2014 saw Jadwa Investment complete its first complete exit following the sale of the firm’s stake in Gulf Union Foods Company, and its first majority-stake investment with the acquisition of Global Environmental Management Services.

“Our most important accomplishment in 2014 was to continue delivering strong performance to our clients,” said Mr. Al-Sudairy. “With another year of record performance, we have further cemented our position as a partner of choice for Saudi companies and family businesses by continuing to deliver differentiated and consistent investment performance and sustainably demonstrate value to our clients and portfolio companies.”

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About Jadwa Investment

Jadwa Investment is a Riyadh-headquartered investment management and advisory firm with assets under management of SAR 19 billion in public equity, private equity, real estate and fixed income. The firm’s clients include government-related entities, local and international institutional investors, leading local family companies and offices and high-net-worth individuals. Jadwa Investment is one of the Kingdom’s three largest public equity asset managers and the region’s top mutual fund performer.

Jadwa Investment is licensed by the CMA as an authorized person, registration number 6034/37.