Saudi wealth fund details ties to global venture, buyout firms
Sanabil’s website notes half of its assets are allocated to venture capital
Riyadh: The venture arm of Saudi Arabia’s sovereign wealth fund has disclosed its ties to more than 50 venture capital and private equity firms including Blackstone and KKR & Co., in one of the first public disclosures of its investments.
The website of Sanabil Investments, wholly owned by the Public Investment Fund, says it commits around $2 billion a year into “venture, growth and small buyout assets worldwide.” Other firms it names include Andreessen Horowitz, General Atlantic, Hellman & Friedman and Platinum Equity.
CVC and Apollo are also listed among buyout funds it invests in. Sanabil’s website notes half of its assets are allocated to venture capital, 30 per cent to private equity and a fifth to a “liquid portfolio.”
The disclosure offers the most comprehensive accounting yet of the links some of the world’s biggest investment firms have to Saudi Arabia. The site also details Sanabil’s direct investments in companies like the scooter rental app Bird and Caffeine, a social media platform.
Sanabil, which is controlled by the more than $600 billion PIF, doesn’t disclose its assets under management.
The Information reported the disclosure earlier.