Saudi-based Kingdom Holding Co. announces a $229m investment in Europe’s asset management company M&G.
M&G is a UK-based PLC specializing in savings and asset management, and currently has more than $370b in assets under management, making it one of the largest in the sector.
This investment from Saudi’s Kingdom Holding Co. aligns with its widely-diversified portfolio of investment in global market leaders across 18 sectors, and its current goal to expand to new and promising sectors.
It is worth mentioning that earlier this year, Prince Alwaleed sold 16.87% of Kingdom Holding to several Saudi wealth funds for $1.51 billion.
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