Hassana Investment Company (Hassana) and Franklin Templeton Financial Company (Franklin Templeton) have signed a Memorandum of Understanding (MoU) valued at USD 150 million to explore a strategic partnership related to investments in Saudi private credit opportunities. The partnership reflects a shared vision to mobilise institutional capital into the Saudi private sector and to strengthen access to alternative financing for high-growth companies across the Kingdom.
The MoU was signed by Ms. Hessa Alsheikh, Head of International Public Markets and Private Credit at Hassana Investment Company and Ms Muneera H. Al Dossary, Chief Executive Officer, Franklin Templeton Saudi Arabia, in the presence of Mr. Saad AlFadly, CEO and Board Member of Hassana Investment Company and Ms Jenny Johnson, President and CEO of Franklin Templeton and Sandeep Singh, Head of CEEMEA and India at Franklin Templeton.
A key benefit of private credit strategies is that they support and expand access to capital for mid-sized companies, which account for almost 50% of employment across Saudi Arabia but receive less than 10% of total bank lending.
โOur longstanding partnership with Franklin Templeton encompasses both international and local markets. As one of the early entrants into the regionโs fixed income space, Franklin Templeton has played a meaningful role in its development. We look forward to exploring opportunities in Saudi private credit, with the aim of broadening financing solutions for underserved segments of the market,โ said Hani Aljehani, Chief Investment Officer – International Markets at Hassana.
โThis strategic partnership is a testament to our continued commitment to the Saudi market. The MoU marks an important step in further strengthening the relationship between Hassana and Franklin Templeton, as both firms seek to collaborate on investment opportunities in the Kingdom, with a focus on supporting the growth of private sector enterprises, advancing economic diversification and contributing to the objectives of Vision 2030,โ said Jenny Johnson, President and CEO of Franklin Templeton.
Hassana is one of the regionโs most active institutional investors, with over SAR 1.2 trillion (USD 320 billion) of assets under management. Hassana is committed to creating long-term value and delivering the best investment outcomes across assets and geographies by applying strategic vigour and leveraging its scale to fulfil its vision today and for the future.
Based in San Mateo, California, Franklin Templeton, a major global asset manager, has a 25-year presence in the Middle East. The firm further solidified its commitment to Saudi Arabia with the opening of its Riyadh office in March 2024. Renowned for its pioneering approach to emerging market investments, Franklin Templeton now offers a suite of investment and research services from its Riyadh location. These include MENA Fixed Income and Global Sukuk, Saudi Fixed Income, Frontier and MENA Equities, and GCC Private Credit.
