Kohlberg Kravis Roberts & Co affiliate KKR Saudi Limited has received an Arranging License from the Capital Market Authority (CMA) to conduct business in Saudi Arabia.
The license will enable KKR to expand its operations in the region and it plans to actively seek investment opportunities in the Kingdom.
Ambassador Ford M Fraker, Senior Advisor and Chairman of KKR Middle East and North Africa, says: “We are very pleased to announce that KKR has been awarded an Arranging License from the Capital Market Authority (CMA) to conduct business in Saudi Arabia. KKR is the first global US private equity firm to be awarded a license to operate in Saudi Arabia, and this marks a further step in the development of KKR’s presence in the region.”
Kaveh Samie (pictured), Managing Director and Head of KKR Middle East and North Africa, says: “KKR has always recognised the importance of Saudi Arabia and we are delighted to be awarded the license in the largest economy in the region. The granting of the license is evidence of our commitment to the Kingdom and the MENA region as a whole, and we look forward to building KKR’s operations here through the identification of attractive investment opportunities in the region.”
KKR established a presence in the MENA region in 2008 and opened an office in Dubai in 2009.
