HONG KONG – May 29, 2014 – CBRE Global Investors has entered into a cooperation agreement with SEDCO Capital to launch an Asia Pacific, Shariah-compliant investment program, targeting investors in the Kingdom of Saudi Arabia as well as across the Gulf Cooperation Council region.
The program will seek to invest in Shariah-compliant, income-producing real estate assets across various property sectors in the Asia Pacific region, with an initial focus on Australia and Japan. Over time, the program is expected to grow to in excess of $300 million of equity.
“This is a significant win that demonstrates the strength of the firm’s platform to execute across geographies and sectors, which is further augmented by our affiliation with the broader CBRE businesses across the APAC region. We are delighted to be working with SEDCO Capital, an experienced provider of Shariah-compliant investment solutions, to build a Pan-Asia Pacific real estate portfolio on behalf of Middle Eastern investors,” said Mr. Richard Price, Chief Executive Officer, CBRE Global Investors Asia Pacific.
SEDCO Capital, the Capital Market Authority-regulated investment management company, is part of Jeddah-based SEDCO Holding, one of the largest and most respected business organizations in Saudi Arabia, and has advised in excess of US$3 billion of assets for its clients across various asset classes.
Mr. Hasan Al-Jabri, Chief Executive Officer of SEDCO Capital said, “A hallmark of SEDCO Capital’s philosophy has been socially responsible investing and our adherence to the principles of Shariah makes this very seamless and distinguishes us from others. With this new and powerful partnership with CBRE Global Investors, we aim to not only continue our legacy but also bring excellent investment opportunities to clients who have interest in Asia Pacific.” Also speaking on this milestone occasion, SEDCO Capital’s Chief Investment Officer, Bernard Caralp said, “We work with the best in class managers and partners and engage ourselves in active asset management through an institutional approach. This relationship with CBRE Global Investors will further improve our capabilities to manage investments effectively.”
About CBRE Global Investors
CBRE Global Investors is a global real estate investment management firm with $90.2 billion in assets under management* as of March 31, 2014. The firm sponsors investment programs across the risk/return spectrum for investors worldwide.
CBRE Global Investors is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBG). It harnesses the research, investment sourcing and other resources of the world’s premier, full-service commercial real estate services and investment company for the benefit of its investors. CBRE Group, Inc. has approximately 44,000 employees in approximately 350 offices (excluding affiliates) worldwide. For more information about CBRE Global Investors, please visit www.cbreglobalinvestors.com
*Assets under management (AUM) refers to fair market value of real estate-related assets with respect to which CBRE Global Investors provides, on a global basis, oversight, investment management services and other advice, and which generally consist of properties and real estate-related loans; securities portfolios; and investments in operating companies, joint ventures and in private real estate funds under its fund of funds program. This AUM is intended principally to reflect the extent of CBRE Global Investors’ presence in the global real estate market, and its calculation of AUM may differ from the calculations of other asset managers.
About SEDCO Capital
SEDCO Capital is a leading investment management firm based in Jeddah, Saudi Arabia. SEDCO Capital has a strong track record of delivering superior returns and currently manages a diversified spectrum of investments in real estate, equities and other businesses. For the past 14 years SEDCO Capital has held an extensive portfolio in global real estate, having invested in over 22 countries, by partnering with local asset managers. For more information, about SEDCO Capital, please visit www.sedcocapital.com.