Latest news with #SaadAlfadly
Arabian Business
5 days ago
- Business
- Arabian Business
Brookfield appoints Saad Alfadly as Chairman of its KSA Board
Saad Alfadly will bring over 25 years of experience to Brookfield Asset Management after he was appointed Chairman of the Board for its entity in Saudi Arabia. In the new role, Saad will oversee Brookfield's strategic direction and objectives in the Kingdom. Over his career, Saad has held senior leadership roles at NCB Capital, Morgan Stanley Saudi Arabia, and the Saudi Central Bank. He was also the Chief Executive Officer of Hassana for over a decade. Bruce Flatt, CEO of Brookfield, commented: 'We are pleased to welcome Saad to Brookfield. Saudi Arabia represents a key pillar of our global strategy, and his leadership and experience will be valuable as we grow our business across the Kingdom.' Last year, Brookfield announced its regional private equity fund, Brookfield Middle East Partners, which will target buyouts, structured solutions and other investment opportunities across industrials, consumer and business services, technology and healthcare in Saudi Arabia and the region. The company intends to allocate 50 per cent of the capital to investments in the Kingdom. Brookfield is one of the largest foreign direct investors in the GCC with a portfolio of approximately US$15 billion of managed assets across infrastructure, private equity and real estate. Headquartered in New York, Brookfield has over US$1 trillion of assets under management across renewable power and transition, infrastructure, private equity, real estate, and credit. Saad, who has a bachelor's degree from King Saud University and a master's degree from Boston University, added: 'I am pleased to join the team at Brookfield. Saudi Arabia presents tremendous opportunities across sectors aligned with Brookfield's capabilities and long-term perspective, globally. I look forward to leveraging this ecosystem in advancing Saudi Vision 2030.' Jad Ellawn, Brookfield's Head of the Middle East, said, 'This appointment is a milestone in the continued expansion of our presence and platform in Saudi Arabia. The addition of Saad to the team will help us further accelerate this growth as we seek to deploy more capital across the Kingdom.' Brookfield is not presently authorised by the Capital Market Authority of the Kingdom of Saudi Arabia to carry out securities business in the Kingdom.
Bloomberg
7 days ago
- Business
- Bloomberg
Brookfield Taps $320 Billion Fund's Ex-CEO as Saudi Chairman
Brookfield Asset Management has hired the former chief executive officer of Saudi Arabia's $320 billion pension fund manager as its new chairman in the kingdom where it has inked a series of deals and recently set up a new investment vehicle. Saad Alfadly has been named chairman of the board for Brookfield's Saudi Arabia operations, the firm said in a statement on Monday. He joins from Hassana Investment Co., which he oversaw as CEO for over a decade.
