PIF, BlackRock sign MoU

To explore infrastructure investments in Saudi, MENA

BlackRock and Saudi wealth fund PIF sign an MoU (Image credit: Saudi PIF)

The Saudi Public Investment Fund (PIF) announced today the signing of a non-binding memorandum of understanding (MoU) with US investment company BlackRock to consolidate the company’s Middle East infrastructure strategy and to develop a framework for cooperation to explore investment opportunities in Middle Eastern infrastructure projects, with a primary focus on the Kingdom.

BlackRock will support this initiative by establishing a dedicated infrastructure investment team in Riyadh to expand its investment portfolio across the Middle East.

The targeted project package includes a number of sectors such as energy, utilities, water, environment, transportation, communications, and social infrastructure.