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Riyadh: Investcorp, a leading global alternative investment firm, and China Investment Corporation (CIC), one of the world's largest sovereign wealth funds, have announced the launch of 'Investcorp Golden Horizon', a fund that will invest in high-growth companies across Saudi Arabia, the rest of the Gulf Cooperation Council (GCC), and China.

The platform's target size is $1 billion and will be anchored by reputable institutional and private investors from the GCC and CIC. Target companies are expected to have high growth potential in attractive sectors, including consumer, healthcare, logistics, and business services. The Investcorp Saudi Pre-IPO Growth Fund, part of the platform, has already announced three investments in the GCC.

Mohammed Alardhi, Executive Chairman of Investcorp, said: "This commitment by CIC, one of the world's largest sovereign wealth funds, is a testament to Investcorp's unparalleled franchise in the GCC and reinforces the trust placed in the firm's global platform and teams. We are looking forward to building on this relationship and growing our partnership in the future."

Dr. Bin Qi, EVP and Deputy CIO of CIC, said: "As one of the world's largest sovereign wealth funds, CIC has been actively investing in both developed and emerging economies. During the past couple of years, we have built several bilateral funds with leading financial institutions to facilitate industrial cooperation between China and major economies in the world. We are working closely with Investcorp to build a similar bilateral fund to strengthen financial and industrial ties between China and GCC countries."

The platform's launch was announced at Investcorp's China-GCC Investment and Business Cooperation Summit in Riyadh.