HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, Chairman of Kingdom Holding Company (KHC), has signed a memorandum of understanding (MoU) with Mr. Hank Ahn, Chairman and CEO of Korea Investment Corporation (KIC), according to KHC website. 

Moreover, this strategic partnership aims at generating opportunities in private equity investments and the exchange of investment opportunities between both parties globally.

Furthermore, This partnership is the first of its kind between an investment holding company and a leading sovereign wealth fund.

The signing was attended by Mr. Sarmad Zok, Chairman and CEO of KHI and Member of KHC’s Board of Directors, Dr. Adel Alsayed, Executive Director for Private Equity, International Investments, Mr. Mohammed Fahmy, KHC’s CFO and Mr. Fahad Bin Saad Bin Nafel, Executive Assistant to HRH the chairman.

His Highness’s investment in Korea through KHC is in the financial sector via Citigroup. Prince Alwaleed also had investments in Korea in both Daewoo Corporation and Hyundai Motors.