The fund has effectively launched its operations and started making progress in exploring business opportunities through MCH, a Spain-based private equity firm, according to a press release.
MCH was selected by COFIDES and the State General Reserve Fund (SGRF) to manage the fund independently. SGRF and COFIDES are the sole investors of Spain-Oman Private Equity Fund. The fund involves a 50/50 joint investment by Oman and the Spanish public sector.
The fund will invest in Spanish mid-cap companies that have international growth plans and interests in benefiting both countries while initially focusing in Oman and Spain. The focus sectors of the fund are construction materials, manufacturing, mining, tourism, logistics, health, infrastructure, energy, food, and agribusiness.
The fund will allow Oman to benefit from the experience and technological know-how of Spanish companies through the creation of employment, technology transfer and investment profitability. It will also provide Spanish companies with a new financing instrument to encourage their expansion abroad, the consolidation and growth of the parent company and, at the same time, contribute to the development of Oman and Spain.