Saudi Arabia Set to Back $2 Billion Brookfield Mideast Fund
- Brookfield, Saudi Wealth Fund ink MoU at Riyadh’s FII summit
- At least half of the fund will be allocated to deals in Saudi
This article is for subscribers only.
Saudi Arabia will back Brookfield Asset Management Ltd.’s new $2 billion Middle East fund, giving the Canadian investment firm extra financial firepower to pursue deals in the oil-rich Gulf region.
The Public Investment Fund will anchor Brookfield Middle East Partners, which will invest in businesses in Saudi Arabia and the wider region, according a statement Wednesday. At least half of the fund will be allocated to deals within the kingdom and to international firms looking to expand locally — a move aimed at attracting foreign direct investment.