March 02, 2022: The Kuwait Investment Authority's joint venture with the Pakistan Government, Pakistan Kuwait Investment Company (Private) Limited (PKIC) and R.J. Fleming & Co. Ltd. (RJF or RJF Dubai) have entered into a Memorandum of Understanding to jointly set up and manage (under the requisite and appropriate licenses) a Private Equity Fund in Pakistan (the Fund).
With PKIC’s strong local footprint and experience, and R.J. Fleming’s international expertise and networks this is will be a landmark partnership in the Pakistan private equity market.
The Fund will help proven Pakistani business entrepreneurs access growth capital to scale in the local and regional markets, provide best practice governance and upgrade business management skills enabling local or international options for listing or sale.
With recent international institutional participation in the early-stage market in Pakistan and very large conglomerates already served well, there is a gap and opportunity to work with medium to large scale companies and with proven reputable business leaders to help achieve their true growth potential.
Successful investments through this initiative will showcase opportunities in Pakistan and bode well for the overall private equity ecosystem of the country. Initial seed capital for the fund shall be provided by PKIC and for subsequent rounds, funding will be raised from local as well as from international investors leveraging R.J. Fleming’s global network.
