Goldman Sachs Group Inc., HSBC Holdings Plc, and Fortress Investment Group are collaborating on a significant private credit deal in Saudi Arabia, marking one of the first major transactions of its kind since the regional conflict began. The financial institutions are working alongside Middle East fund managers Ruya Partners and Amwal Capital Partners to provide $150 million in financing to United Saudi Company, according to sources familiar with the matter.
The deal represents a notable development in Saudi Arabia's financial landscape, particularly amid the ongoing regional tensions. The involvement of global financial giants like Goldman Sachs and HSBC underscores the confidence in the stability and potential of private credit investments in the region.
The financing package is aimed at supporting United Saudi Company, though specific details about the company's plans for the funds were not disclosed. The sources requested anonymity as they were not authorized to discuss private information.