Najm CapitalNajm Fund I + Co-InvestGCC growth equity, infrastructure, and strategic buyouts · Q1 2026 reporting
3
K. Al Rashidi · Director
KR
Commitment
Fund V$600M
Co-Invest$200M
Called61.3%
DPI 0.11x·Distributed $55M
Reporting
Last deck: 2026-03-18Viewed 5× · 68 min dwell
Next: 2026-05-02MENA consumer thematic memo · Foodics + Jarir landscape
Relationship
Faisal Al GhamdiVP Alternative Investments
Najm leadSara Al Mazrouei
About PIF
Saudi Arabia's sovereign wealth fund with ~$925B AUM — one of the world's largest. Najm anchor in Najm Fund I with the largest co-invest sidecar capacity. Vision 2030 alignment is a formal LP requirement; PIF IC reviews every co-invest opportunity through a domestic economic impact lens. Extremely active co-investor · has participated in all four offered sidecars to date. VP Alternative Investments is the primary relationship; Mohammed Al Rashidi handles senior engagement.
Their priors · what resonates
Vision 2030 alignment required for IC approval on new commitments
MENA consumer + tech is PIF priority sector — expects differentiated GCC deal flow from Najm
Co-invest velocity · fastest decision-maker in the LP base · $50M–$300M sidecar range
Domestic economic multiplier preferred · Saudi-linked revenue or employment preferred in portfolio
Quarterly bilateral reporting · PIF runs own shadow portfolio analytics
2025 key moments
Jan: PIF co-invest mandate expanded · sidecar capacity increased to $300M per deal
May: Careem super-app exit co-invest · PIF realized $110M from Delta sidecar
Sep: Foodics Series C co-invest · $40M · Saudi F&B tech thesis
Dec: Vision 2030 alignment review · PIF rated Najm Fund I in top decile for GCC PE
Contacts
FG
Faisal Al GhamdiVP Alternative InvestmentsLast: 2026-04-22
BQ
Badr Al QahtaniDirector, Private EquityLast: 2026-04-12
LO
Lujain Al OtaibiSenior Analyst, AlternativesLast: 2026-04-01
RD
Reem Al DossariIR + OperationsLast: 2026-04-12
Engagement temperature
Based on deck engagement, meeting cadence, and responsiveness over last 90 days.