Investcorp, the Bahrain-based alternative asset manager backed by Abu Dhabi's Mubadala Investment Company, has appointed financial industry veteran Mashaal AlJomaih as chief executive for its Saudi Arabia unit, as it seeks to boost its ties with investors in the Arab world's biggest economy. Mr AlJomaih, who has more than 20 years of experience in investment and advisory roles, will replace the retiring Yasser Bajsair, Investcorp said in a statement on Sunday.
The duo worked closely to grow Investcorp’s business and investor relations in Saudi Arabia, creating a "deep relationship network" across private wealth and institutional investors, which include ultra-high-net-worth individuals, family offices, financial institutions, pension funds, endowments and sovereign wealth funds, it said. Investcorp will continue expanding its growth strategy in Saudi Arabia, "[having] seen a wealth of opportunities and appetite for investment in the kingdom ... capitalising on a dynamic and ambitious market", Mr AlJomaih said.
Before joining Investcorp in 2022, Mr AlJomaih held a number of senior positions at BNP Paribas Investment Company and JPMorgan Chase Bank, and co-founded of Darin Partners, a UK-based commercial real estate investment and consultancy.
Mr AlJomaih was "instrumental in supporting the growth of our business in Saudi Arabia over the past two years. Having worked with him closely, I know he will continue the firm’s expansion in the kingdom with his rich knowledge and understanding of the local market", said Yusef Al Yusef, global head of distribution at Investcorp.
Investcorp, which is known for its shareholding in Tiffany and Gucci during its early years of investing, has grown to become a global investment powerhouse. The company is among several international asset managers seeking funding from local and foreign investors for their Middle East-focused investment funds.
It currently manages about $53 billion in assets, including those managed by third-party managers. The firm has 14 offices across the GCC, US, Europe and Asia, including, India, China, Japan and Singapore, employing around 500 people.
Investcorp was able to raise $5.4 billion in funding from global investors during its last fiscal year and expects to reach a similar level this year despite a sharp increase in geopolitical volatility in the Middle East, its vice chairman Rishi Kapoor told The National in Riyadh earlier this month.
The company also deployed $4.4 billion in capital during the 12-month period to the end of June across asset classes and expects investor appetite to remain strong, with Investcorp hitting a “similar level” of investments during the current financial year, he said at the time.
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Date started: 2012
Founder: Amir Barsoum
Based: Dubai, UAE
Sector: HealthTech / MedTech
Size: 300 employees
Funding: $22.6 million (as of September 2018)
Investors: Technology Development Fund, Silicon Badia, Beco Capital, Vostok New Ventures, Endeavour Catalyst, Crescent Enterprises’ CE-Ventures, Saudi Technology Ventures and IFC
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Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor
Power: 727hp
Torque: 1,000Nm
Transmission: 8-speed auto
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Navdeep Suri, India's Ambassador to the UAE
There has been a longstanding need from the Indian community to have a religious premises where they can practise their beliefs. Currently there is a very, very small temple in Bur Dubai and the community has outgrown this. So this will be a major temple and open to all denominations and a place should reflect India’s diversity.
It fits so well into the UAE’s own commitment to tolerance and pluralism and coming in the year of tolerance gives it that extra dimension.
What we will see on April 20 is the foundation ceremony and we expect a pretty broad cross section of the Indian community to be present, both from the UAE and abroad. The Hindu group that is building the temple will have their holiest leader attending – and we expect very senior representation from the leadership of the UAE.
When the designs were taken to the leadership, there were two clear options. There was a New Jersey model with a rectangular structure with the temple recessed inside so it was not too visible from the outside and another was the Neasden temple in London with the spires in its classical shape. And they said: look we said we wanted a temple so it should look like a temple. So this should be a classical style temple in all its glory.
It is beautifully located - 30 minutes outside of Abu Dhabi and barely 45 minutes to Dubai so it serves the needs of both communities.
This is going to be the big temple where I expect people to come from across the country at major festivals and occasions.
It is hugely important – it will take a couple of years to complete given the scale. It is going to be remarkable and will contribute something not just to the landscape in terms of visual architecture but also to the ethos. Here will be a real representation of UAE’s pluralism.
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Company Fact Box
Company name/date started: Abwaab Technologies / September 2019
Founders: Hamdi Tabbaa, co-founder and CEO. Hussein Alsarabi, co-founder and CTO
Based: Amman, Jordan
Sector: Education Technology
Size (employees/revenue): Total team size: 65. Full-time employees: 25. Revenue undisclosed
Stage: early-stage startup
Investors: Adam Tech Ventures, Endure Capital, Equitrust, the World Bank-backed Innovative Startups SMEs Fund, a London investment fund, a number of former and current executives from Uber and Netflix, among others.
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Teams:
Punjabi Legends Owners: Inzamam-ul-Haq and Intizar-ul-Haq; Key player: Misbah-ul-Haq
Pakhtoons Owners: Habib Khan and Tajuddin Khan; Key player: Shahid Afridi
Maratha Arabians Owners: Sohail Khan, Ali Tumbi, Parvez Khan; Key player: Virender Sehwag
Bangla Tigers Owners: Shirajuddin Alam, Yasin Choudhary, Neelesh Bhatnager, Anis and Rizwan Sajan; Key player: TBC
Colombo Lions Owners: Sri Lanka Cricket; Key player: TBC
Kerala Kings Owners: Hussain Adam Ali and Shafi Ul Mulk; Key player: Eoin Morgan
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Format 10 overs per side, matches last for 90 minutes
Timeline October 25: Around 120 players to be entered into a draft, to be held in Dubai; December 21: Matches start; December 24: Finals
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FIXTURES
All times UAE ( 4 GMT)
Friday
Saint-Etienne v Montpellier (10.45pm)
Saturday
Monaco v Caen (7pm)
Amiens v Bordeaux (10pm)
Angers v Toulouse (10pm)
Metz v Dijon (10pm)
Nantes v Guingamp (10pm)
Rennes v Lille (10pm)
Sunday
Nice v Strasbourg (5pm)
Troyes v Lyon (7pm)
Marseille v Paris Saint-Germain (11pm)
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Founded in 1985 by Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, the Central Veterinary Research Laboratory (CVRL) is a government diagnostic centre that provides testing and research facilities to the UAE and neighbouring countries.
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Profession: Driver
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