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Gulf Islamic Investments (GII), the UAE-based Shari’ah-compliant alternative investment company, has announced the acquisition of a Saudi Capital Market Authority (CMA) licensed entity.

With this acquisition, GII’s operations in Saudi Arabia are set to encompass a spectrum of financial services including corporate finance advisory, investment fund and asset management, private equity, and structured finance. The company highlighted that its regulatory licenses grant authorization for dealing as principal, agent, and underwriter, along with arranging and advising on financial offerings, and managing investment funds.

Under the name Gulf International Investment Company, GII’s investment license in the kingdom will facilitate the exploration of new avenues for business expansion. The Riyadh office will serve as a hub for investing in local companies and establishing fresh investment and asset management partnerships.

Currently managing assets worth over $4.5 billion, GII’s portfolio in Saudi Arabia includes a significant stake in Al Meswak Dental Clinics, collaboration with Jadwa Investment Management and Advisory Firm, a share in the Abeer Medical Company, and nearing completion of other acquisitions in the Saudi food processing sector.

Mohammed Alhassan, co-founder and co-CEO of GII Group, expressed the company’s commitment to fortifying its presence in Saudi Arabia through strategic acquisitions and collaborative investments with local and GCC investors.