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09 December 2023

StanChart closes $75m mezzanine investment

By Staff

Standard Chartered bank’s private equity unit has closed a $75 million mezzanine investment in Bahraini family-owned Hassan Jawad & Sons group.

It’s is the first proprietary investment by the Standard Chartered Private Equity Ltd (SCPEL) in the Middle East as part of its plan to invest in mid to late stage companies with strong business models, positive net cash flow and earnings generation backed by highly capable and trustworthy management teams.

Taimoor Labib, Regional Head of Mena Private Equity at SCPEL, said: "We believe this to be the largest Mena corporate mezzanine investment to date and is a strong indication of our belief in the JBG senior management team. Our investment in JBG demonstrates an ability to participate in all levels of our clients' capital structures. As the proprietary investor for Standard Chartered Bank, we are one of the few organisations in the Mena private equity space capable of executing large ticket transactions across asset classes".

David Law, Regional Head of Wholesale Banking, said: “Standard Chartered has been working with JBG for the last 23 years and we are pleased to be deepening our relationship further by providing this bespoke financing solution to help the Company meet its long term objectives while providing certainty of funding".

Since 2002, SCPEL has invested and bought assets worth $2.5bn in existing bank clients as well as companies that become the bank's clients throughout Asia, Africa and the Middle East. The investments aim to provide growth capital to enable development and expansion, buy outs and acquisitions, and balance sheet restructuring. SCPEL invests directly in asset classes that include Private Equity, Infrastructure, Real Estate and Distressed Investments.