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FINANCIAL NEWS
Saudi KHC, PineBridge sign MoU to invest in Africa
01 Jul 2014
(MENAFN) Saudi-based Kingdom Holding Company (KHC) has signed a memorandum of understanding with PineBridge Investments Middle East (PBME), a global multi-asset-class manager, in plans to invest in direct private equity opportunities in Africa, according to Arab News.
The MoU was signed by Adel Alsayed, KHC’s executive director for private equity and international investments, and Talal Al-Zain, CEO of PineBridge Investments Middle East.
Under the agreement, KHC and PineBridge will invest in African companies, aiming to cover the growing demand and bear with the continent’s fast growing economies.
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