MRZM Investments is an independent investment management firm based in Riyadh

Who we are

Independent boutique investment firm

We are an independent, employee-owned boutique investment firm. We focus on areas where we have real expertise and conviction. Our ownership model keeps us aligned with our clients and committed to compounding capital over the long term.

Dedicated to public equity investing

We focus exclusively on Saudi and MENA public equities. We adopt a bottom-up fundamental approach with selective focus on special situations, constructing a concentrated portfolio of high-conviction investments.

MRZM Investments is authorized and licensed by the Capital Market Authority of the Kingdom of Saudi Arabia to conduct Managing Investments activities under License No. 25317-02 dated 03/02/1447H (28/07/2025G). The firm has a paid-up capital of SR 8 million and is registered in the Commercial Register under No. 7048878024 dated 10/08/1446H (09/02/2025G).

Qualitative Diligence Focused on Identifying Inflection Points

Approach

Beyond the Numbers

Our approach centers on understanding the forces that truly shape a business, its leadership, culture, competitive positioning, and operating realities on the ground. This qualitative lens allows us to see risks and opportunities that numbers alone cannot reveal.

The Power of Inflection Points

We look for inflection points where companies can unlock value, accelerate growth, or reset their trajectory. These moments are powerful because they offer the greatest asymmetry, when the upside is greatest and most underappreciated by the market.

Long-term Perspective and Owner mindset

Time Arbitrage

Our willingness to hold securities for +3 years gives us an edge over a market driven by short-term results. By staying patient, we can turn temporary cyclical weaknesses into long-term opportunities for our portfolio.

Engagement as a Catalyst

When we invest, we act like true owners of the business. We actively engage with shareholders, boards, and management teams to challenge inefficiencies, and unlock value. We pursue these special situations where engagement can be a powerful catalyst to value realization.

Our story began long before our firm was founded

story

For a decade, our team has navigated cycles, managed multi-billion portfolios, and made decisions together. Along the way, we built not just a track record, but a way of thinking defined by Alignment, Trust, and Adaptability—shared values that continue to guide how we invest and manage our firm.

Alignment

MRZM is majority owned by its management team, ensuring strong alignment between the firm, its investment professionals, and its clients. Management invests alongside clients, while the firm’s compensation philosophy ties the investment team’s success to long-term client outcomes.

This structure promotes disciplined decision-making, accountability, and enduring partnerships.

Trust

We believe stewardship is fundamental to investment management.

MRZM approaches client capital with a long-term ownership mindset, emphasizing thoughtful capital allocation, disciplined risk management, and responsible decision-making across market cycles.

Adaptability

Markets evolve, environments change and so must we. Adaptability guides both how we invest and how we manage our business. We are not bound to a single style or rigid mindset; instead, we adjust with discipline to pursue the best outcomes for our clients.

Board of Directors

team

Saad Alfadly

Chairman

Saad is a seasoned investment leader with over two decades of experience managing multi-billion-dollar portfolios across public and private markets. As the founding CEO of Hassana Investment Company, he built the firm into one of the region’s leading institutional investors.

Saad brings deep expertise in institutional fund management, strategic asset allocation, and developing high-performing teams.

Saad currently serves as Chairman of Brookfield Saudi Arabia, sits on the board of Saudi Awwal Bank, and serves on several other corporate boards.

Saad holds a B.Sc. from King Saud University and a M.Sc. from the Boston University.

Mohammed Alomran

Board Member

Mohammed is a seasoned business and investment leader with extensive board and executive experience.

He currently serves on the boards of Saudi Awwal Bank, Yanal Finance Company, Tourism Development Fund, and holds executive roles as General Manager of Omran Al-Omran & Partners Investment Company and Saudi Orix Leasing Company.

Mohammed holds a B.Sc. in Civil Engineering from King Saud University and a M.Sc. in Construction Engineering and Management from the University of Southern California.

Nasser Aljared

Board Member

Nasser is a legal expert with over 17 years in governance, corporate law, and capital markets. He is a Partner and co-founder of JAH Partners Law Firm, serving public and private sector clients.

Previously, he was Chief of Governance and Boards Affairs and Legal Advisor at Misk Foundation, leading governance frameworks, major transaction negotiations, and corporate restructuring. He spent nearly a decade at the Saudi Capital Market Authority handling securities law investigations and regulatory compliance.

Nasser holds an LLM from Indiana University and an LLB from King Abdulaziz University.

Executive Team

Ahmad Alhumaidan, CFA

Chief Executive Officer

Ahmad has extensive experience managing sizable public equity portfolios, most recently as Head of Local Public Equity at Hassana Investment Company, where he oversaw multi-billion-dollar investments and delivered strong, long-term performance.

Earlier in his career, he worked in equity research at HSBC and began at PwC. He has also served on the boards of multiple publicly listed companies, contributing to governance, strategy, and value creation.

Ahmad holds a Bachelor’s degree from KFUPM, an MBA from London Business School, and is a CFA charter holder.

Mohammed Mussa

Head of Portfolio Management

Mohammed has extensive expertise in managing equity portfolios across the MENA region, with a strong track record in generating sustainable long-term returns. He most recently served as Lead Equity Portfolio Manager at Hassana Investment Company. In this role, he led research, portfolio construction, and risk management.

He holds a Bachelor’s degree in Finance from Prince Mohammed Bin Fahad University and has served on the boards of numerous listed and unlisted companies.

Maram Alnumay, CFA, CAIA

Head of Investment & Risk Solutions

Maram has extensive experience in investment and risk management, with expertise in asset allocation, institutional portfolio construction, and risk modelling. Most recently, she served as Chief Risk Officer at Hassana Investment Company, providing strategic oversight for one of the world’s largest pension portfolios. Earlier in her career, she was part of the International Markets team, contributing to investment strategy development and manager selection across multiple asset classes. She also serves on boards of both listed and unlisted companies.

Maram holds a Bachelor’s degree in Finance from King Saud University, a Master of Science in Finance from DePaul University, is a CFA Charterholder and a Chartered Alternative Investment Analyst (CAIA).

Abdulaziz Albawardi

Vice President - Equity Research

Abdulaziz is an experienced public equity investor specializing in the MENA region, with a strong record in fundamental research and idea generation that drives excess returns. At Hassana Investment Company, he covered multiple sectors and contributed to security selection, and performance delivery.

He holds a Bachelor’s degree in Finance with a Minor in Accounting from Prince Sultan University.