Riyadh – Mubasher: Alkhabeer Capital has disclosed its financial results, which revealed a decline in total operating income and revenues, whereas assets under management (AUM) had increased in 2017.
The Saudi-based asset manager recorded a 10% drop in total operating income to SAR 187 million last year, while its revenues decreased by 14% year-on-year to SAR 61 million.
The firm attributed the declines to a devaluation of its real estate portfolio.
On the other hand, Alkhabeer Capital’s AUM increased to SAR 4.8 billion in 2017, up 8% from the prior year, the company said in a statement.
“Although challenges might persist, Alkhabeer Capital is well placed to adapt, and we remain committed to identifying and creating new investment opportunities that fit within our overall risk-return profile for our clients and shareholders,” Alkhabeer Capital’s CEO Ahmed Saud Ghouth said.
In 2017, Jeddah-based Alkhabeer Capital launched two funds, namely the Alkhabeer GCC Opportunity Fund and Alkhabeer Opportunity Fund II, the CEO revealed.
He added that the company had restructured its Alkhabeer Real Estate Residential Development Fund and established the Alkhabeer Industrial Private Equity Fund III.
Alkhabeer’s business in asset management aims to offer opportunities in markets via various private equity and real estate funds, added to services for mergers and acquisitions through its investment banking division.
