King & Spalding Advises on Jadwa’s SAR 2 Billion GCC Fund

King & Spalding has advised Jadwa Investment Company on the launch of its Jadwa GCC Private Equity Fund 1, a Saudi Arabia-domiciled investment fund with a target of up to SAR 2 billion (approximately USD 533 million) in capital commitments. The fund is one of the largest blind-pool private equity funds registered with Saudi Arabia’s Capital Market Authority (CMA) and operates in compliance with Shari’ah principles.

The fund aims to invest in a diversified portfolio of high-growth private equity opportunities across the Gulf Cooperation Council (GCC) region. Key sectors of focus include healthcare, retail, food and beverage, hospitality, logistics, energy, and industrials.

Investors in the fund include prominent entities such as Jada Fund of Funds, the Saudi Venture Capital Company, as well as regional and international institutional investors and family offices. With over SAR 90 billion in assets under management, Jadwa has built a robust track record since its establishment in 2007, previously launching over 15 single-asset private equity funds. This new fund marks a significant milestone as Jadwa’s first blind-pool private equity initiative, highlighting its leadership in the regional private equity market.

The Team

The King & Spalding team advising on the fund included Riyadh-based partners James Stull and Sayf Shuqair, alongside Nabil Issa, Dounia Mansour, Husam Alhmary, and Salma Alheraiqi. Tax matters were handled by John Green (Washington, D.C.), while Christine Savage, Shaswat Das, and Michelle Story (all Washington, D.C.) provided regulatory and sanctions advice.