Rakiza closes its first infrastructure fund at $1bn

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Rakiza closes its first infrastructure fund at $1bn

Mar 22, 2023 9:01 AM

Rakiza an infrastructure fund investing in Oman and Saudi Arabia which is co-managed by Oman Infrastructure Investment Management (OIM) and Equitix has reached the target of its first fund at over 1 billion....

Rakiza, an infrastructure fund investing in Oman and Saudi Arabia, which is co-managed by Oman Infrastructure Investment Management (OIM) and Equitix, has reached the target of its first fund at over $1 billion.

It has already deployed 25% of capital across three projects: a 30% stake in Omantel’s passive tower assets in Oman; a majority stake in Khazaen Fruit and Vegetable Central Market in Oman; and a c.31% stake in the Oman International Container Terminal located in the Port of Sohar.

The fund invests in infrastructure projects that generate stable returns through a combination of exit-driven capital gains, and income in the renewables, power and water, social infrastructure, telecommunications and transport and logistics sectors. The pipeline of near-term opportunities is strong and there are several further investments which are nearing financial close, including in what would be Rakiza’s first acquisition in Saudi Arabia.

Creating value

Rakiza actively seeks to create value through its investments while supporting the achievement of the relevant global sustainability and ESG targets set by its key investors. By considering ESG factors, Rakiza aims to provide a positive long-term impact on society and the planet, while at the same time positively impacting financial performance.

Rakiza’s investment decision-making processes undergo a rigorous ESG screening procedure; ESG data at portfolio companies is also actively monitored to ensure target companies behave in a socially and environmentally responsible manner and enhance their sustainability profile.

Muneer Al Muneeri, Rakiza Founder and OIM CEO, said: “Our target of raising over $1 billion is an important milestone, on which Rakiza hopes to build with similar future initiatives. The success of and appetite for the Fund is not only evidence that Oman and Saudi Arabia offer attractive investment opportunities for global institutional investors, but that Rakiza is leading the way in identifying compelling assets and projects across the region. We look forward to moving to the next stage of the fund’s journey together with our strategic partners. These partners all contribute complementary experience and expertise to the Rakiza investor community, which has greatly enhanced intrinsic value for our stakeholders.”

Attractive home

Hugh Crossley, Equitix Co-Founder and CEO, said: “The GCC is an attractive home for smart capital, and an exciting investment destination for those with local access. We are pleased to have such strong and growing partnerships with the region’s leading institutional investors. Driven by Rakiza’s local investment teams in our Riyadh and Muscat offices, we aim to deliver on the Fund’s return objectives, by investing in, and developing, compelling essential infrastructure projects, in Oman and Saudi Arabia.”-- TradeArabia News Service

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