Hassana, Franklin Templeton ink $150m MoU to boost Saudi private credit market
Hassana Investment Company and Franklin Templeton have signed a $150m memorandum of understanding (MoU) to explore a strategic partnership targeting Saudi Arabia's private credit market, as the kingdom pushes to diversify financing options and channel institutional capital into high-growth businesses.
The agreement aims to expand access to alternative financing, particularly for mid-sized companies, which make up nearly half of Saudi Arabia's employment but account for less than 10 per cent of total bank lending.
'This strategic partnership is a testament to our continued commitment to the Saudi market,' Jenny Johnson, president and CEO of Franklin Templeton said. 'As both firms seek to collaborate on investment opportunities in the kingdom, our goal is to support private sector growth, drive economic diversification, and contribute to Vision 2030.'
Hassana, Franklin Templeton deal builds on partnership
Hassana, which manages more than SAR1.2tn ($320bn in assets, is one of the region's largest institutional investors.The firm plays a key role in deploying capital across asset classes and geographies in support of Saudi Arabia's long-term development goals.
The asset manager opened a new office in Riyadh in March 2024 and now offers a range of services including MENA fixed income, global sukuk, Saudi fixed income, and GCC private cedit strategies from the kingdom.
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