backRIYADH, Jan. 5, 2016 — King & Spalding acted as fund counsel to Swicorp on the creation of a Shari’ah-compliant public equities fund that will invest in various companies listed on Tadawul, Saudi Arabia’s Stock Exchange. The new fund, Swicorp IPO Fund, is regulated by the Saudi Arabian Capital Market Authority, which approved the public offering of the fund yesterday.
Swicorp is a private financial services group focused on investment banking, private equity and asset management in the Middle East and North Africa. King & Spalding previously advised Swicorp on the successful launches and closings of two private Saudi Arabian real estate funds in 2015, which collectively raised approximately SAR 400 million (US$ 106.6 million).
The King & Spalding team on the fund matter was led by Dubai- and Riyadh-based partners Nabil Issa and James Stull and included Riyadh-based associate Sayf Shuqair. King & Spalding is consistently recognized as a market leader in funds by various publications and has been selected as Band 1 for Investment Funds for five consecutive years by Chambers Global.
About King & Spalding
Celebrating more than 130 years of service, King & Spalding is an international law firm that represents a broad array of clients, including half of the Fortune Global 100, with 900 lawyers in 18 offices in the United States, Europe, the Middle East and Asia. The firm has handled matters in over 160 countries on six continents and is consistently recognized for the results it obtains, uncompromising commitment to quality, and dedication to understanding the business and culture of its clients. More information is available at www.kslaw.com.