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SEDCO Holding
SEDCO Holding manages Shariah-compliant capital for Gulf families, anchored by the Bin Mahfouz banking fortune.
SEDCO Holding
Yaser Binmahfouz chairs SEDCO Holding, established in 1976 by the late Sheikh Salem Bin Mahfouz to steward wealth from the family's foundational stake in National Commercial Bank (now Saudi National Bank) alongside their trading and construction interests. It operates today as a multi-family office for the Bin Mahfouz family and other Gulf families, with a permanent presence in Jeddah and Riyadh. The firm maintains close co-investment ties with entities like Al Murjan Group, controlled by other branches of the Bin Mahfouz family. SEDCO structures its portfolio around two pillars: domestic private-equity-style corporate investments, which include public equity, fixed income, and indirect commitments, and a substantial proprietary real estate book. The real estate division spans commercial and residential assets concentrated in Saudi Arabia — directly owning and operating Red Sea Mall and Al Mahmal Center in Jeddah, Al Hayat Tower Apartments Hotel and SEDCO Tower at King Abdullah Financial District in Riyadh, and the Golden Belt Compound in Al-Khobar. On the corporate side, direct deals include the 2003 acquisition of a 50% stake in Nahdi Medical Company, the MENA region's largest retail pharmacy chain, and the 1996 founding of Elaf Group, a hospitality and travel operator whose portfolio includes Hotel Galleria Jeddah, which opened in 2018. The firm pursues direct co-investments, SPVs, and Shariah-compliant private equity across Europe and the Middle East. SEDCO does not disclose total AUM or annual deployment. Its management oversight is exercised through a committee structure that includes family members — such as Yaser Binmahfouz chairing the investment committee and Ghazal Binmahfouz serving on the audit committee — alongside external hires, including Matthew Eyton-Jones and Simon Palethorpe. The firm launched its LEAP corporate strategy in 2022, shifting from an operating holding company to an active financial investor. It also supports two philanthropic foundations, Riyali Foundation and the Salem Bin Mahfouz Foundation. Unlike a standard family office that reinvests into external funds exclusively, SEDCO operates its own hospitality subsidiary (Elaf Group) and directly executes property development and asset management — blending an in-house operating platform with a multi-family-investment mandate, all under a Shariah board that reviews governance and products.
General information
Firm type
Multi Family Office
Year founded
1976
AUM
Undisclosed
Location
Region
Middle East
Country
Saudi Arabia
City
Jeddah
Corporate office
South Tower of Red Sea Mall, King Abdulaziz Road, Ash Shati District, Jeddah 21491, Saudi Arabia
Additional offices
Riyadh, Saudi Arabia
Principals
Yaser Binmahfouz
Chairman, Executive and Investment Committee
Abdelelah Salem Binmahfouz
Board Member
Simon Palethorpe
Chairman, Nomination and Remuneration Committee
Matthew Eyton-Jones
Chairman, Audit and Risk Committee
Ghazal Binmahfouz
Member, Audit and Risk Committee
Badr Binmahfouz
Member, Executive and Investment Committee
Zeyad bin Othman Alhekail
Member, Executive and Investment Committee
Sector focus
Frequently asked questions
Who controls investment decisions at SEDCO Holding?
The Executive and Investment Committee, chaired by Yaser Binmahfouz, sets policy and oversees asset allocation, performance, and exit decisions. The committee includes family member Badr Binmahfouz and non-family professionals Zeyad bin Othman Alhekail and Matthew Eyton-Jones. All investments must comply with the Shariah Advisory Committee's guidance, which reviews governance and instruments.
How is the original wealth source connected to the current structure?
The firm was founded in 1976 by Sheikh Salem Bin Mahfouz, who built his fortune through trading, construction, and the creation of National Commercial Bank — now Saudi National Bank. SEDCO serves as the multi-family office for his descendants, with separate investment arms like Al Murjan Group held by other family branches, reflecting a segmented but interlinked family-office architecture.
What is SEDCO's real estate portfolio made up of?
SEDCO directly holds a large portfolio of Saudi commercial and residential assets. Known properties include Red Sea Mall and Al Mahmal Center in Jeddah, the Al Hayat Tower Apartments Hotel and SEDCO Tower at KAFD in Riyadh, and the Golden Belt Compound in Al-Khobar. The firm also operates the Elaf Group hospitality chain and the Hotel Galleria Jeddah.
Does SEDCO invest directly, or does it allocate to external funds?
SEDCO uses both models. Its domestic investment pillar encompasses direct private-equity deals, co-investments, and SPVs — demonstrated by its historic 50% stake in Nahdi Medical Company. The firm also commits to public equities and fixed-income instruments. Its real estate pillar is operated directly, with in-house property development and asset management teams.
What was the LEAP strategy shift in 2022?
In 2022, SEDCO announced its LEAP corporate strategy to transition from an operating holding company to an active financial investor. The restructuring refined the firm's focus to two core pillars — Domestic Investment and Real Estate — while expanding into new asset classes. This move accelerated its shift toward curated, income-generating portfolios and away from hands-on operational control of all subsidiaries.
Which sectors does SEDCO typically target for corporate investments?
The corporate investment arm focuses on healthcare, education, hospitality, travel and tourism, and asset management — mirroring the sectors of its historic direct holdings like Nahdi Medical and Elaf Group. Their Altss-filtered sector tags also flag current interests in Energy Transition & Renewables, FinTech, PropTech, Industrial Tech, and Supply Chain & Logistics.
How are philanthropic activities separated from the investment office?
SEDCO maintains two distinct foundations: the Riyali Foundation, which runs financial-literacy programs for young people and won gold at the Gulf Sustainability Awards, and the Badir volunteering program, which won silver. A third entity, the Salem Bin Mahfouz Foundation, operates as a broader philanthropic vehicle, structurally independent from the commercial investment committees.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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