Breaking News

The Saudi PIF fund commits up to 20% in Investcorp’s new Gulf infrastructure fund

Dubai: Saudi PIF fund will take up to 20% exposure in a new regional infrastructure fund of Investcorp and Aberdeen Standard Investments of Bahrain. In addition, the fund – Aberdeen Standard Investcorp Infrastructure Partners – also received approval from the Asian Infrastructure Investment Bank for $ 90 million.

The investment of the Public Investment Fund (PIF) is in line with its “mission to build strategic business partnerships, unlock promising economic opportunities and employ patient capital to support sectors with significant long-term growth potential.” In the recent past, PIF spoke of giving due importance to investment opportunities with Saudi Arabia and the major Gulf markets.

The new infrastructure fund aims to participate in projects within the Gulf and the wider region, with a focus on those built according to the principles of environmental and social governance (ESG) and the United Nations Sustainable Development Goals.

Hazem Ben-Gacem, Co-CEO of Investcorp, said: “Today’s uncertain and challenging economic environment has created a gap between the need to develop or upgrade critical infrastructure and the resources available for such projects.”

Leave a Reply