On the sidelines of the annual meeting of the International Forum of Sovereign Wealth Funds in Madrid, the Oman Investment Authority (OIA) and Spain’s government-owned Cofides Company marked a significant expansion of their partnership with the introduction of the second Joint Spain-Oman Private Equity Fund.
The unveiling of this fund, witnessed by Abdulsalam bin Mohammed Al Murshidi, Chairman of Oman Investment Authority, and Oman’s ambassador to Spain, Omar bin Said Al Kathiri, aligns with OIA’s ongoing endeavors to bolster reserves and savings, contributing to long-term fiscal sustainability. The fund is expected to attract companies seeking access to the Omani market and emerging markets, with Spanish enterprises poised to share their knowledge and technology, benefiting both parties.
Highlighting the success of the first Spain-Oman Private Equity Fund, which has achieved an internal net revenue rate of 13.8% to date, Chairman Al Murshidi emphasized that this accomplishment played a pivotal role in motivating both sides to expand their collaboration and launch the second private equity fund. José Luis Curbelo, Chairman of Cofides Spain, expressed his satisfaction with the achievements of the first fund since its inception in 2018, underscoring the positive outcomes of their collective efforts.
