Gemcorp Sets Up $1 Billion Fund to Tap Saudi Arabia Projects

The emerging markets-focused asset management firm Gemcorp Capital LLP is setting up a $1 billion fund to bring foreign investment into some of Saudi Arabia’s most ambitious projects.

The fund will target investments in projects which are aligned with Vision 2030, Crown Prince Mohammed Bin Salman’s plan to transform the Saudi economy away from reliance on oil, the company said in a statement on Wednesday.

The partnership between Gemcorp and the kingdom’s Ministry of Investment, will offer investment products including credit, equity and hybrid debt. Gemcorp will provide seed financing for the fund, while the ministry will allow access ...