NCB Capital, a Saudi Arabian investment company with 44 billion riyals ($11.7 billion) of assets, is expanding outside of the region through alliances with TCW Group Inc. and Amundi Asset Management.
NCB Capital plans to start two funds in the second half of 2012 pending regulatory approval managed by TCW and Amundi, said Chief Investment Officer Faysal Badran. TCW and Amundi now manage a combined $550 million of international funds for NCB Capital, the Saudi wealth manager said in a statement on March 24.
âThe international funds business is a relative small portion of our business, and thatâs why weâre doing this deal,â Badran, who is also NCB Capitalâs head of asset management, said in a phone interview yesterday. âWeâve always had international funds but there was a desire to refocus on better performing investment managers last year.â
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