King & Spalding has advised Jadwa Investment on the launch of the Jadwa GCC Diversified Private Credit Fund, a new investment vehicle targeting up to SAR 750 million (about USD 200 million). The fund aims to advance the private credit market in the Gulf Cooperation Council (GCC) region.
The fund completed its first close with over SAR 300 million (approximately USD 80 million) and has already made initial investments through partnerships with regional fintech platforms Lendo and JeelPay. More investments are expected to be finalized in the first half of 2026.
This is Jadwa Investment’s first blind-pool regional private credit vehicle. It offers institutional and private wealth investors access to opportunities in the growing GCC private credit sector. The launch highlights an increased interest in private credit as an asset class, which is supported by Saudi Arabia’s economic transformation initiatives and rising demand for credit across the GCC.
King & Spalding provided legal counsel on regulatory, structuring, and commercial matters related to establishing this fund. The law firm helped develop an innovative onshore-offshore structure that is considered new for credit funds in the region.
The King & Spalding team included partners James Stull and Sayf Shuqair from Dubai, counsel Dora Chan from Singapore, associates Husam Alhmary from Riyadh, and Nick Impey from London.
Jadwa Investment is based in Riyadh and manages more than SAR 110 billion (around USD 30 billion) in client assets across various investment classes such as public equity, private equity, real estate, private credit, fixed income, and money markets. Its clients include government-related entities as well as local and international institutional investors and private wealth investors. The company is licensed by Saudi Arabia’s Capital Market Authority as a capital market institution.
This marks the second major fund for Jadwa Investment that King & Spalding has assisted with within a year. Previously, King & Spalding advised on launching Jadwa GCC Private Equity Fund 1—a Saudi-based investment fund aiming for up to SAR 2 billion (about USD 533 million) in commitments.
Further information about that fund can be found here.