– PIF and I Squared Capital signed a Memorandum of Understanding (MoU) for I Squared to pursue the deployment of up to $2 billion in real estate and infrastructure assets owned by PIF and its portfolio companies.
– The collaboration will focus on identifying investment opportunities in digital infrastructure and district cooling, with I Squared targeting up to $1 billion in each sector and the potential to expand into additional related infrastructure themes.
– The initiative supports PIF’s 2026–2030 strategy to attract global investors, maximize the value of its portfolio companies, accelerate project delivery, and increase third-party capital participation.
– Saad Alkroud, Head of Local Real Estate Investments at PIF, said the partnership combines PIF’s large-scale pipeline of real estate and infrastructure projects with I Squared’s operational expertise to create sustainable value and attractive commercial returns.
– Sadek Wahba, Chairman and Managing Partner of I Squared Capital, said the MoU marks a transition from partnership to action, reflecting confidence in Saudi Arabia’s infrastructure growth story and I Squared’s commitment to contributing its global expertise in the Kingdom.
– Any transactions resulting from the non-binding MoU will be subject to further evaluation by both parties and the completion of applicable regulatory approvals.
