Rakiza Infrastructure Fund holds Inaugural AGM
Posted 15.04.2023 | admin
Rakiza, an infrastructure fund investing in the Sultanate of Oman and the Kingdom of Saudi Arabia, held its Annual General Meeting last week in the presence of His Excellency Abdulsalam bin Mohammed Al Murshidi, President of the Oman Investment Authority (OIA) and its investors.
Key points:
- Rakiza Fund I closes at $1.055 billion, due to strong institutional demand
- The successful fund-raising places Rakiza as one of the largest infrastructure funds in the Middle East
- Partnership with strategic players will deliver attractive opportunities in Oman & Saudi Arabia
Muneer bin Ali Al Muneeri, CEO of Rakiza thanked the Fund’s first close institutional investors, the Public Authority for Social Insurance, the Civil Service Employee Pension Fund, the Royal Oman Police Pension Fund, and other regional investors, for their support and trust in Rakiza. He also praised the role of Rakiza’s strategic investors including sovereign wealth funds from the region.
Al Muneeri highlighted two key milestones of the Fund; the Final close of Fund 1 (in excess of its $1billion target) and deploying 25% of its capital in three infrastructure projects. As of today, Rakiza has acquired a 30% equity in a telecom tower portfolio in Oman; 31.25% equity in a gateway container terminal in the Port of Sohar; and a majority shareholding in the new Central Fruit and Vegetable Market located in Khazaen.
Rakiza ranks as one of the largest infrastructure funds in the Middle East region, due to the strong institutional demand, and has adopted best industry practices in ESG, governance, transparency, and investment management.
Rakiza is in advanced stages of closing its first investment in Saudi Arabia and is pursuing further attractive opportunities in Oman and KSA.
At the close of the AGM, Al Muneeri thanked Rakiza’s management and team for their hard work, and extended gratitude to OIA’s leadership for their support and guidance which has been key to the Fund’s success.
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For media enquiries please contact
Amjad Aljadidi, Senior Operations Officer, Oman Infrastructure Investment Management
Amjad.J@rakizafund.com
About Rakiza
Rakiza is co-managed by Oman Infrastructure Investment Management (OIM), a specialist infrastructure manager based in Oman, and Equitix, a leading investor, developer, and fund manager of core infrastructure assets in the UK, Europe, US and the Middle East. The managers have joined forces to establish a Fund that will invest in public private partnership (PPP) and other core infrastructure projects in Oman and Saudi Arabia.
The Rakiza Fund’s strategy is to capitalize on the drive towards privatization and foreign direct investment (FDI) across the region, where first mover investors, with access to opportunities, are generally able to achieve higher returns.
Disclaimer
This press release may contain forward-looking statements or statements of future expectations based on currently available information. Such statements are naturally subject to risks and uncertainties that could cause actual events or results to differ materially from those anticipated by such statements. Rakiza and its affiliate companies do not make any representation or warranty, express or implied, and assume no liability whatsoever as to the accuracy, completeness, or updated status of such statements.
