The Saudi Public Investment Fund becomes a major investor in a Gulf infrastructure fund | Economy

0
21


The Saudi sovereign wealth fund, the Public Investment Fund, will become a major investor in an infrastructure fund launched by Bahrain’s Invest Corp and Aberdeen Standard Investments.

And “Invest Corp” said in a statement today, Thursday, that the fund received capital pledges from the Public Investment Fund, amounting to 430 billion dollars, for up to 20 percent of the total size of the fund prior to its first planned closing.

The statement did not specify the size of the fund, but the Financial Times indicated on Wednesday that it could reach $800 million.

The statement said the new fund also received approval from the board of directors of the Asian Infrastructure Investment Bank for a pledge of $90 million.

The statement says that other global investment institutions, including pension funds, insurance companies, endowments, family offices and private clients, may join the fund.

Aberdeen Standard Invest Corp. Infrastructure Partners Fund aims to contribute to the post-Covid-19 economic recovery and reforms in countries across the GCC and MENA region, by investing in sustainable infrastructure projects.





LEAVE A REPLY

Please enter your comment!
Please enter your name here