SPJBC signs MoU for Saudi-Pakistan private equity fund

Mettis Global reported on November 10 that the Saudi-Pakistan Joint Business Council signed an MoU to establish a private equity fund, starting with a corpus worth several hundred million. Saudi and Pakistani private investors are to contribute equally, with 75% of the fund allocated to investments in Pakistan and 25% to projects in Saudi Arabia.

The fund is intended to back high-growth private businesses in areas including agriculture, mining and construction, and to consider commercial projects linked to Pakistan’s plan to monetize public land. Potential opportunities include airports, motorways, ports and maritime development, while investments in Saudi Arabia, including its holy cities, are also envisaged. The Bank of Punjab, Habib Bank, Faysal Bank, United Bank and Ismail Industries executives attended the signing; the fund’s structure and first investments depend on regulatory approvals.