Riyadh - Sharikat Mubasher: Jada Fund of Funds Company unveiled its first investment in private credit with an investment in Ruya Partners’ fund valued at SAR 938 million, the PIF-owned company announced in a press release.
Jada pledged to further support the Saudi private credit market with additional investments in the near future.
This step underscores Jada’s commitment to fostering small and medium-sized enterprises (SMEs) in Saudi Arabia and the region.
Bandr Alhomaly, CEO of Jada Fund of Funds Company, affirmed that this investment is the beginning of Jada’s support for the local private credit market.
He added: “Our new strategy reinforces our commitment to providing innovative and flexible funding solutions to promote private sector-led growth and economic diversification under the Kingdom’s Vision 2030.”
Meanwhile, Rawan AlJermawi, Head of Private Equity at Jada Fund of Funds Company, commented: “By supporting private credit investment funds, we contribute to the growth and diversification of the investment sector aligning with our commitment to impactful and forward-looking investments."
For his part, Omar Alyawer, Partner at Ruya, said: “We are witnessing a renaissance in the Middle East, led by the significant support from regional sovereign wealth funds and institutional investors like Jada Fund of Funds that are empowering firms like Ruya to help mid-market receive flexible credit solutions to their growth needs.”
Earlier this year, Jada broadened its investment coverage to include private credit, and this is the first investment it made in this promising asset class.
