• King Street Capital Management and Public Investment Fund (PIF) signed a non-binding MoU
• PIF is expected to act as an anchor investor in a new private credit fund
• Fund will focus on Saudi Arabia and the wider MENA region
• Announcement made during FII Institute PRIORITY Miami Summit 2026
• Fund strategy includes providing private capital solutions to corporates
• Will conduct asset-based lending across Saudi Arabia and MENA
• Maintains flexibility to invest in public credit markets and special situations
• PIF continues to build partnerships with global asset managers
• Objective is to strengthen Saudi capital markets and attract international capital and expertise
• Partnership aims to address growing demand for financing from regional businesses
• PIF’s anchor investment expected to catalyze additional long-term foreign capital
• Focus on unlocking funding for high-impact sectors
• The fund will be a flexible, multi-strategy private credit vehicle
• Will leverage King Street’s 30-year experience in global and emerging market credit
• Brian Higgins highlighted expected 15–30% annual growth in regional private credit demand over the next five years
• Private credit seen as complementary to GCC banking sector and capital markets
• King Street is expanding its presence in Saudi Arabia and MENA
• Plans to open an office in Riyadh
• Final launch subject to conditions including definitive agreements, regulatory approvals, and milestone completion
