Resilience through cycles: lessons from 15 years in public markets

How Ajeej has navigated crises while building long-term value
Turning volatility into conviction-led opportunity

Over the past 15 years, few firms have been as deeply embedded in MENA’s evolving public markets as Ajeej Capital. The firm’s journey has been shaped by cycles of volatility and transformation: the global financial crisis, the Euro crisis, the Arab Spring, the oil price crash, and sweeping economic reform programmes across the region. Rather than being destabilised, Ajeej has emerged from each cycle stronger, with its philosophy of conviction-led investing proving itself time and again.

From its earliest days in Riyadh in 2007 to its establishment in the Dubai International Financial Centre (DIFC) in 2012, Ajeej has institutionalised resilience. The creation of a detailed internal control repository (ICR) ensured that research, trading, portfolio management, and operations were all process-driven and transparent. This emphasis on governance and discipline has been vital in navigating uncertainty.

“Resilience is not just surviving a crisis; it’s knowing how to adapt, learn, and emerge stronger on the other side.”

‍Ajeej Leadership

Concentration has been another key element. By focusing on a smaller number of high-conviction positions, Ajeej has turned volatility into opportunity. During periods when others fled the market, Ajeej doubled down on its strongest ideas, magnifying returns when stability returned. This approach has created a track record that reassures investors that resilience is not reactive but built into the DNA of the firm.

For institutional allocators, this experience curve is invaluable. It shows that Ajeej is not just a participant in MENA markets but a guide who has lived through their evolution and knows how to navigate their complexities. This long-term credibility has made Ajeej a trusted partner for sovereign wealth funds, pension funds, and endowments worldwide.

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