ICO Global Communications Holdings (ICO) was formed in 1995 aimed at providing quality voice, wireless Internet and other packet data services to the maritime, transportation, parastatal, aviation, oil, gas and construction industries. This was to be achieved by developing a Medium Earth Orbit satellite system designed to supply affordable communications services to both mobile and fixed users around the world. The company aimed to offer personal mobile communications possible anywhere in the world.

ICO was a legacy asset acquired by SAIF in 1998. Following the appointment of AIIM as Fund Manager in 2001, SAIF disposed of its equity interest in ICO in 2012.