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Dubai – Reuters: The sovereign “Public Investment Fund” will become a major investor in an infrastructure fund launched by Bahrain’s Investcorp and Aberdeen Standard Investments.
“Investcorp” said in a statement yesterday, Thursday, that the joint fund, called “Aberdeen Standard Investcorp Infrastructure Partners,” received capital pledges from the Saudi “Public Investment Fund” amounting to 430 billion dollars for up to 20% of the total size of the new fund prior to its closing complete) the first planned.
The statement did not specify the size of the fund, but the Financial Times reported yesterday that it could reach $800 million, and that its first closing would be $250 million.
The statement said the new fund had also received approval from the Asian Infrastructure Investment Bank’s board of a pledge of $90 million.
He added that other global investment institutions, including pension funds, insurance companies, endowments, family offices and private clients, may join the fund.
Aberdeen Standard Investcorp Infrastructure Partners aims to contribute to the post-Covid-19 economic recovery and reforms in countries across the GCC and broader MENA region by investing in sustainable infrastructure projects. And “Investcorp” is a global manager of alternative investments and manages assets of about 35.4 billion dollars.