The February 2025 opening of Apex Group’s regional headquarters in Riyadh caps an effort that began in May 2024 and opened unexpected Shariah opportunities, Regional Managing Director for the Middle East Christiane El Habre told IFN Investor.
“We have seen firsthand how on-ground engagement can uncover opportunities that might otherwise remain invisible. Being present on-site made it easier to grasp subtle market shifts, regulatory nuances and cultural preferences for insights that are harder to capture remotely.”
In the Islamic marketplace, clients seeking Shariah compliant offerings turned out to be more numerous and open to partnerships than originally forecast, Christiane said, seeing first-hand prospects in sectors such as technology, healthcare, renewable energy and financial services.
“Having deployed our systems in Saudi Arabia gave us a chance to collaborate on large-scale initiatives,” she said of Apex Group – which manages over 1,000 funds and some 450 clients in 34 offices worldwide, with assets totaling US$34 billion.
One main advantage had been partnering with start-ups and incubators under the Saudi push for tech innovation – a key growth potential where JPMorgan had projected the number of fintech firms in the Kingdom could swell to 525 by 2030, from just 10 in 2018.
This activity has helped Apex Group increase its immersion within the private equity and venture capital landscape in Saudi Arabia by tapping into the growing start-up scene and government-backed innovation programs, said Christiane.
Engaging directly with regulators, universities and training institutes had also opened doors for Apex Group to educate and invest in local talent, ramping up its hiring in specialized compliance, technology and client relation roles.
Looking ahead, Christiane said the Riyadh office will emphasize services for the Shariah investors and real estate that are attracting both local and international investors seeking ethical and high impact ventures driven by the Saudi 2030 vision.
These efforts include leveraging on the Kingdom’s large-scale development projects in smart cities, tourism and logistics. “Our focus moving forward is on scaling sustainably, deepening local partnerships and staying agile to the Kingdom’s evolving economic landscape.”
