Swicorp moves headquarters from Geneva to Riyadh

The firm's existing offices are in Geneva, Tunis, Tehran and Algiers. Swicorp plans to open additional offices in Dubai and Dammam over the next 12 months.

The license will enable Swicorp to engage in four areas of securities activity in Saudi Arabia: asset management (with a particular focus on private equity); arranging equity and debt capital raising (initial public offerings, rights issues, debt financing, etc); corporate finance advisory services (mergers and acquisitions, joint ventures and strategic advisory projects); and underwriting.

Kamel Lazaar, Swicorp's president and CEO, said, 'This represents an important milestone in consolidating Swicorp's position as a leading player in investment banking and private equity in the region. Swicorp's proven regional expertise and the international perspective brought by our extensive team of experienced investment banking professionals will enable us to offer the highest level of financial services to companies and investors in Saudi Arabia and across the MENA region.'

Swicorp Joussour, a private equity fund launched in December 2005 with over $850m already committed and an expected final closing of $1bn, will invest in the energy, petrochemicals and energy-intensive sectors. Swicorp also manages the Swicorp Intaj Capital Fund (target capitalisation of $200m), a diversified private equity fund targeting consumer-related sectors in the MENA region, and the Swicorp Emerge Invest Fund, a private equity fund focusing on Algeria, Iran and Sudan (over $100m already committed).

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