Thursday, March 28, 2024 | Ramadan 17, 1445 H
broken clouds
weather
OMAN
23°C / 23°C
EDITOR IN CHIEF- ABDULLAH BIN SALIM AL SHUEILI

Oman-Spain Investment Fund to be managed by MCH

minus
plus

MADRID: The Compañía Española de Financiación del Desarrollo, COFIDES and the State General Reserve Fund (SGRF) of the Sultanate of Oman’s sovereign wealth fund, have selected MCH Private Equity (MCH) to manage the joint investment fund created by both entities. MCH was selected following a rigorous bidding process that was launched at the end of December 2017. Oman-Spain Investment Fund came in the wake of the MoUs signed in different fields during the royal visit of King Juan Carlos of Spain to the Sultanate in 2014.


SGRF and COFIDES, the latter acting on its own behalf and as manager of the FCPJ Foreign Investment Fund (FIEX), are the sole investors of the fund (together with the additional commitment of the grantee). It involves a 50:50 joint investment between Omani fund and the Spanish public sector of 100 million euros, in such a way that COFIDES will contribute 1 million euros from its own resources and 99 million euros from the FIEX, which COFIDES exclusively manages on behalf of the State Secretariat for Trade Commerce, attached to the Ministry of Economy, Industry and Competitiveness.


The Fund will make investments in companies of Spanish mid-cap groups with international projection plans with the objective of benefiting the interests of both countries with an initial focus on Oman and Spain. The main sectors focus of the Fund are construction materials, manufacturing, mining, tourism, logistics, health, infrastructure, energy and food-agribusiness. — ONA


SHARE ARTICLE
arrow up
home icon