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CEO of $320bn Saudi pension fund to step down

By Pramod Kumar
City, Architecture, Building Unsplash/Ekrem Osmanoglu
Riyadh skyline. Hassana has become one of the top 10 global pension fund investment managers under Al Fadly’s leadership

The CEO of Hassana Investment Company, which manages Saudi Arabia’s $320 billion social security and pension fund, will step down later this year.

Saad Al Fadly will leave Hassana, the investment manager for General Organization for Social Insurance (Gosi), on July 1, the company said in a statement. He will remain a board member.

Al Fadly joined Hassana as CEO in 2013 and led the organisation through a merger with the state-owned Public Pension Agency in 2021. In that time, Hassana has become one of the top 10 global pension funds globally, the statement said.

In October 2024 Hassana weighed becoming an anchor investor in US investment company EIG’s $1 billion regional fund on infrastructure and energy transition with an allocation of up to $250 million.

The company committed to investing $1.5 billion in Nasdaq-listed TPG’s climate platform in May 2024.

According to the company website Al Fadly previously held senior positions with NCB Capital, Morgan Stanley Saudi Arabia and the Saudi Central Bank.

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