COFIDES, the Spanish Development Financing Company, and Oman Investment Authority (OIA), Oman's sovereign fund, have agreed to expand their collaboration through a new joint fund of 300 million euros.
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The fund, called Spain Oman Private Equity Fund (SOPEF) II, will be available for financing Spanish companies with international expansion plans and to attract them towards Oman and the markets of its influence.
The agreement has been signed in Madrid, in the presence of the Ambassador of the Sultanate of Oman to Spain, His Excellency Omar Alkathiri.
COFIDES and OIA already collaborated on the first fund SOPEF, which was established in 2018 and has invested in 11 Spanish companies in various sectors, including agri-food, renewable energy, technology, industry, health and lifestyle.
SOPEF I has achieved an investment return of approximately 13,8%, which has been a key factor for COFIDES and OIA to decide to create a second fund.
SOPEF II will be managed by the renowned firm MCH Private Equity Investments, which operates in the Spanish middle market.
This agreement is an example of the collaboration between Spain and Oman to promote the economic development of both countries
The fund will offer Spanish companies a valuable opportunity to support them in their international expansion strategies. By accessing this fund, Spanish companies will have the capital and resources necessary to take this step or to strengthen their position abroad.
This financial support will not only drive the growth and consolidation of the parent companies, but will also allow them to leverage their experience and knowledge to drive innovation and development in Oman.
El president of COFIDES, José Luis Curbelo, has highlighted the successful cooperation between COFIDES and Oman Investment Authority. “At COFIDES we are very satisfied with the success and effective development of SOPEF I, which has turned out to be an incomparable instrument when it comes to enhancing the competitiveness of both countries. We hope that this new fund continues to help Spanish companies grow and consolidate their position in the international market".
The president of Oman Investment Authority, His Excellency Abdulsalam Al Murshid, has stated that “the first fund established together with COFIDES achieved numerous achievements. Furthermore, the performance of the first fund is one of the key factors that led us to make the decision to expand our commitment through this second agreement.”
