Euromoney 40th anniversary special: Focus on Jadwa
Unlike many of the 100-odd new Saudi investment firms, Jadwa is not just a brokerage or an under-employed Saudi equivalent of an international firm. Created three years ago by Prince Faisal Bin Salman and other Saudi investors, Jadwa is Shariah compliant and has the sixth-largest asset management portfolio in the Kingdom.
In April, the firm had to abandon efforts to raise an equivalent of $3.3 billion through sukuk and short-term debt for Jabal Omar, a company targeting real-estate development in Mecca. Nevertheless, as opportunities in Saudi debt capital markets grow, Jadwa hopes to benefit from a market until now dominated by HSBC, where most of Jadwa’s debt capital markets team once worked.
Jadwa and Calyon are co-advising on an acquisition of several hundreds of millions of dollars in the Saudi agriculture sector.