SPJBC signs MoU for Saudi-Pakistan private equity fund

November 10, 2026 (MLN): The Saudi-Pakistan Joint Business Council (SPJBC) has signed a memorandum of understanding (MoU) to set up the Saudi-Pakistan Private Equity Fund, which will start with a multi-hundred-million-sized corpus and is meant to grow into a much larger fund across sectors.

Saudi and Pakistani private investors will contribute equally, while 75% of the fund will be deployed in Pakistan and 25% in projects in Saudi Arabia, said a press release issued.

The council was formed by the governments of Saudi Arabia and Pakistan, in coordination with the high committee of both countries, to deepen private-sector trade and investment between them. The MoU is the outcome of a series of SPJBC meetings.

The fund will target high-growth private businesses, including in agriculture, mining and industries such as construction.

It will also look at commercial projects arising from the Pakistan government’s programme to monetize its land bank, including airports, motorways, and port and maritime development, with the aim of unlocking the value of under-used public land through transparent, commercially structured investments.

It will also seek commercial investments across Saudi Arabia, including in the holy cities. The MoU allows institutions on both sides to be invited to take part in the equity of the fund management company.

The MoU was signed in the presence of council members from both countries.

From the Pakistani side, Mr. Fawad Mukhtar, Co-Chair of the Council and Chairman, Fatima Group, joined virtually. Members present in person included Mr. Zafar Masud, President & CEO, The Bank of Punjab, Mr. Nassir Saleem, President & CEO, Habib Bank Limited, Mr. Yousaf Hussain, President & CEO, Faysal Bank Limited, and Mr. Maqsood Ismail, Director, Ismail Industries Limited. Dr. Gohar Ejaz, Chairman, Lake City Group, Lord Zameer Choudrey, Chairman, Bestway Group, and Mr. Jawaid Iqbal, President & CEO, United Bank Limited, also joined virtually.

From the Saudi side, the signing was attended by Prince Mansour bin Mohammad Al Saud, Chairman of the (SPJBC), and both vice chairman’s council Mr. Mohammad bin Abdukaziz Al Ajlan (CEO of Al Ajlan Group), Mr. Abdulaziz Bin Ali Al Ashrafi (Tayba Group), and council members: Dr. Mohammed Khan (RAEM Group), Mr. Zaid Al Sharif (Alsharif group), Eng. Mohammed Al Mufarij (CEO Saudi Meters Company), Dr. Mohammed Al-Sowaidan (CEO of international investment Gare), Abdallah Al Muhnna (CEO of SAFA Investment), Mr. Abdulrahman Ayedh Algahtani, (CEO of Somuo Investment), Mr. Hani Baothman (CEO of Bin Dawood Investment), Mr. Ghassan Amoudi (CEO of ASYAD Group), Mr. Feras Albakri (Albakri Group), Barrister Habil Ahmed Khan (CEO of Welt Konnect) and  Mr. Mansour Chaudhry (CEO of Barq Pakistan).

Prince Mansour said the friendship between the two countries runs deeper than any agreement, and that the fund will give that bond an equally strong commercial footing.

He said Pakistan is a natural partner for the Kingdom, that Saudi investors are looking for partners and markets where they can grow with confidence, and that a closer look at Pakistan shows a more stable economy with real opportunities.

By investing side by side with Pakistani counterparts, he said, years of study are being turned into on-ground investment meant to last.

Mr. Arif Habib said the fund reflects confidence in profitable investment opportunities in Pakistan, adding that perceptions have long clouded reality and that serious investors are now ready to act on it.

He said Pakistani investors are contributing as the lead, with Saudi partners investing alongside, and that directing capital towards land-bank monetization will turn idle assets into productive investment.

He thanked Prince Mansour and colleagues on both sides and described the fund as a first step towards restoring the confidence of Saudi and wider foreign investors in Pakistan.

The fund’s establishment will comply with the regulatory requirements of both governments. Once approvals are in place, the two sides will move ahead with structuring the fund and making the first investments.

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