Greenstone Saudi Arabia, a subsidiary of Greenstone Equity Partners has received approval from the Capital Market Authority of Saudi Arabia (CMA) to commence operations under its managing investments and operating funds license.

In addition to Greenstone’s existing arranging and advising license, this license allows Greenstone Saudi Arabia to establish, manage, register and offer local and foreign funds to Saudi Arabian investors under the CMA’s investment fund regulations.

Greenstone said in the statement on 6 February that the new license enables Greenstone to enhance its offerings in Saudi Arabia, providing a wider range of investment opportunities and financial services to meet the growing needs of Saudi Arabian investors.

Alex Gemici (pictured), chief executive officer of Greenstone Equity Partners, said:“We are delighted to receive this prestigious license from the CMA, which reflects our dedication to delivering financial services and investment opportunities to the growing market of Saudi Arabia. We are proud of our legacy and roots in the region and continue to be committed to operating in full compliance in the GCC with direct on the ground on-shore licensing in Saudi Arabia and UAE and indirect licensing through local regulatory partners in Kuwait, Oman, and Qatar”.

Founded in 2011 and headquartered in Dubai, Greenstone Equity Partners is an established institutional-grade capital raising firm in the Middle East and the leading provider of regulatory-compliant fund marketing and registration services in the GCC.