Oman Investment Corporation

Tareq Al-Mugheiry serves as Chief Investment Officer and has managed OIC's investment activities since the firm's 2005 founding. He oversees the day-to-day portfolio and sits on the boards of multiple portfolio companies. CEO Kalat Al Bulooshi provides strategic direction and holds board seats across the portfolio, including as Deputy Chairman of Sembcorp Salalah.

OIC originates transactions by working with government stakeholders on large-scale domestic projects and by selectively partnering with international operators such as Singapore's Sembcorp Utilities and Russia's TMK. Its website highlights proactive deal sourcing, local networks, and a direct-development approach that brings global market leaders into Oman as co-investors.

It operates as a private equity investment company, distinct from the Oman Investment Authority, the sovereign wealth fund. OIC takes controlling or founding equity stakes in Omani industrial, infrastructure and service businesses, developing them with a view to eventual IPO on the Muscat Securities Market.

OIC targets initial public offerings on the Muscat Securities Market as its primary exit route, creating expanded investment opportunities for local and regional investors. The firm has already listed Takaful Oman Insurance in 2014 and the US$1 billion Sembcorp Salalah power-and-water project. It has also executed trade sales, such as the 2009 divestiture of Gulf Energy Services via a management buy-out.

OIC does not publish an explicit avoidance list. Observed behavior suggests it stays away from early-stage technology outside of industrial infrastructure, and its disclosed portfolio is concentrated in domestic manufacturing, energy, real estate and financial services, with no consumer-internet, biotech or software investments visible from firm materials.

OIC structures its investments by partnering directly with strategic operators and co-promoters — such as Sembcorp, TMK and the Takaful Oman founding consortium — rather than raising blind-pool funds from external limited partners. The firm equity-finances projects at the entity level and has raised over US$700 million in international project debt for its ventures.

The firm explicitly frames its mandate around Oman's economic diversification and job creation, reporting the attraction of US$370 million in foreign direct investment and the creation of more than 1,500 domestic jobs. Projects such as Khazaen Economic City and the Salalah power-and-water plant align with national logistics, utilities and industrialization goals under the Sultanate's long-term development plans.