Riyadh Welcomes New Investment Partnership
In a groundbreaking move, the Public Investment Fund (PIF) and Macquarie Asset Management (MAM) have officially inked a Memorandum of Understanding (MoU) aimed at expanding investment opportunities in Saudi Arabia and fostering collaboration in key sectors, with a focus on infrastructure and energy transition.
The two entities will explore joint investment prospects in cutting-edge areas such as digital infrastructure, electric vehicle infrastructure, and energy storage, signaling a commitment to innovation and sustainability.
As part of the agreement, MAM is set to establish a regional office in Riyadh, bolstering PIF’s strategy to localize expertise and forge partnerships with top-tier global investors.
With PIF managing approximately $925 billion in assets, the sovereign wealth fund is dedicated to generating substantial returns while driving the diversification of Saudi Arabia’s economy.
MAM, overseeing assets exceeding $600 billion, stands out as one of the world’s premier infrastructure managers, boasting a robust portfolio of over 175 companies across the globe.
This collaboration builds upon existing alliances between PIF’s National Infrastructure Fund (Infra), MAM, and other international investors, aimed at advancing critical infrastructure and energy transition initiatives in the Kingdom.
Yazeed A. Al-Humied, PIF’s Deputy Governor and Head of MENA Investments, hailed the MoU as “a significant milestone in attracting leading global infrastructure asset managers who can mobilize international capital and expertise to fast-track Saudi Arabia’s infrastructure projects, while fostering knowledge exchange and skill development within the Kingdom.”
Ben Way, Global Head of Macquarie Asset Management, expressed enthusiasm for the partnership, stating: “We are thrilled by the prospects offered by Saudi Arabia’s economic evolution and by deepening our collaboration with PIF. By merging our knowledge with the Kingdom’s ambitious vision, we foresee immense potential to deliver cutting-edge projects that will drive the Kingdom’s future progress.”
This agreement aligns with PIF’s overarching strategic partnerships through its MENA investments, aligning with Vision 2030’s mission to position Saudi Arabia as a global investment hub and a catalyst for sustainable growth. — SG
