Hassana Investment Company (Hassana) and Brookfield Asset Management Ltd. (NYSE: BAM, TSX: BAM) today signed a memorandum of understanding (MoU), through which Hassana is exploring to become an anchor investor in Brookfield’s new regional private equity fund Brookfield Middle East Partners (“BMEP” or the “Fund”).
Brookfield intends to raise at least US$2 billion, with Hassana to allocate up to US$500 million in the fund in addition to Brookfield’s own US$500 million commitment. BMEP will target buyouts, structured solutions and other investment opportunities across a range of sectors including industrials, consumer and business services, technology and healthcare.
The MoU was signed by Mr. Saad bin Abdulmohsen Al-Fadly, CEO of Hassana, and Mr. Bruce Flatt, CEO of Brookfield Asset Management.
Mr. Al-Fadly stated, “Brookfield Asset Management, with its long-term investment approach, is an ideal partner for Hassana as we invest in opportunities that are aligned with our commitment to creating long-term value and delivering the best investment outcomes. This partnership will enable us to leverage Brookfield’s expertise and robust track record in private equity, allowing us to commit to deploying capital in sectors that are vital to the growth of the Saudi economy.”
Mr. Flatt said, “We are delighted to partner with Hassana as we expand our private equity investment strategy in Saudi Arabia and the Middle East. Building on our strong track record of strategically deploying capital into high-quality businesses and our operations-focused approach, this partnership reinforces our long-term commitment to the region.”
Brookfield is one of the largest foreign direct investors in the Gulf Cooperation Council (“GCC”). Active in the region since 1997, and directly investing since 2015, Brookfield has built a portfolio of over $12 billion of managed assets across private equity, real estate and infrastructure. With a substantial on the ground presence and an established team in offices in Dubai and Riyadh, Brookfield has taken a differentiated approach to building its business in the region, focusing on building long-term partnerships with leading local institutions.
About Hassana Investment Company:
Hassana Investment Company is the investment manager of the General Organization for Social Insurance “GOSI”. With over SAR1.2 trillion Saudi riyals (320 billion US dollars) of assets under management, Hassana manages one of the largest pension funds in the world with a diversified portfolio of local, regional and global investments across asset classes.
Hassana aims to invest for the long term using a thoughtful approach, robust processes, and world class talent to ensure the portfolio is positioned to deliver the best investment outcomes to address the future pension needs of all Saudi generations.
To learn more, please visit: www.hassana.com.sa
About Brookfield
Brookfield Asset Management Ltd. (NYSE: BAM, TSX: BAM) is a leading global alternative asset manager with approximately $1 trillion of assets under management across renewable power and transition, infrastructure, private equity, real estate, and credit. We invest client capital for the long-term with a focus on real assets and essential service businesses that form the backbone of the global economy. We offer a range of alternative investment products to investors around the world including public and private pension plans, endowments and foundations, sovereign wealth funds, financial institutions, insurance companies and private wealth investors. We draw on Brookfield’s heritage as an owner and operator to invest for value and generate strong returns for our clients, across economic cycles.
For more information, please visit our website at www.bam.brookfield.com
