Saudi Fund With $3 Billion Mandate Plans Boosting Private Credit

Saudi state-backed investor, Saudi Venture Capital, is reshaping its $3 billion investment strategy to channel more money into private credit funds, betting the asset class will capture a larger share of business in the kingdom.

SVC — which primarily acts as a fund of funds — plans to allocate half of its investments to private credit and equity, from about a third last year, according to Chief Executive Officer Nabeel Koshak. The rest will back venture funding, he said.