Mideast Wealth Fund Taps Jadwa to Shift $1 Billion in Assets

One of the Middle East’s oldest sovereign investors has hired Saudi Arabian firm Jadwa Investment to shift about $1 billion in assets as part of a major strategic overhaul.

The Arab Investment Co. appointed Jadwa as a financial adviser to help reallocate money from the sale of legacy investments, according to Chief Executive Officer Abdullah Bakhraibah.