Saudi Arabia's SEDCO Capital said recently its SEDCO Capital Real Estate Income Fund II (SCREIF II) received $118.6 million in pledges from more than 35 investors.
SEDCO Capital said its second real estate income fund has received a strong response in commitments and investors include public and private sector companies, foundations, endowments, Saudi and GCC banks and financially endowed individuals.
SEDCO aims to provide unique and efficient real estate investments products to investors. The fund allows SEDCO to continue this goal and maintain its strategy to acquire high valued assets in the kingdom to diversify its professional portfolio and work to create future capital growth.
“The closing of SCREIF II is another significant milestone for SEDCO Capital and highlights the success of our products as well as the market's reception of our investment philosophy where our business relationships are always built on the partnership model - ensuring transparency, building mutual trust, and sharing success,” SEDCO Capital CEO Hasan Al-Jabri said. “The market is providing us with compelling investment opportunities. We are sourcing investments with attractive returns, good equity multiples and most importantly strong downside protection.”
"With a keen focus on strong management functions and a value-oriented approach to new investment products, SEDCO Capital has emerged as a leading international player in the real estate investment sector both regionally and internationally," Al-Jabri said.
SEDCO Capital's real-estate portfolio in Saudi Arabia is now valued at $266.6 million and has developed to encompass 13 assets under the SEDCO Capital Real Estate Income Fund I (SCREIF I) and SEDCO Capital Real Estate Income Fund II (SCREIF II).