Public Investment Fund (PIF) to Be Anchor Investor in Brookfield Asset Management’s $2 Billion Middle East Fund

– Saudi Arabia’s Public Investment Fund (PIF) plans to support Brookfield Asset Management’s new $2 billion Middle East fund.

– The fund, Brookfield Middle East Partners, aims to secure $2 billion from various investors for buyouts and structured solutions.

– Half of the fund will be allocated to investments in Saudi Arabia.

– A non-binding Memorandum of Understanding (MoU) was signed, positioning PIF as a strategic anchor investor for Brookfield in the region.

– PIF’s Yazeed Alhumied emphasized that the collaboration aligns with PIF’s goal of attracting global capital and enhancing local markets.

– PIF’s ambitions include facilitating knowledge transfer and capacity-building within Saudi Arabia.

– PIF, Saudi Arabia’s sovereign wealth fund, has approximately $930 billion in assets under management.

– Brookfield CEO Bruce Flatt noted Saudi Arabia’s role in the region’s economic transformation and expressed Brookfield’s commitment to contributing to this growth.

– Brookfield, with around $12 billion invested in the Middle East, primarily in the UAE, recently opened an office in Riyadh.

– Brookfield’s new fund plans to invest in private equity and real estate across the Middle East.

– Other anchor investors and a first close for the fund are anticipated in the coming months.

– Anuj Ranjan expressed excitement in welcoming Saudi Arabia’s Public Investment Fund (PIF) as a strategic anchor investor in Brookfield’s new private equity fund, Brookfield Middle East Partners. He highlighted the anticipation of collaboration with PIF to explore investment opportunities across strategic sectors in Saudi Arabia and the broader region.

– Brookfield’s investment approach, characterized by an owner-operator model and extensive experience in the Middle East, is expected to add value to these opportunities.