RIYADH — The Public Investment Fund (PIF) and Macquarie Asset Management (MAM) on Monday announced the signing of a Memorandum of Understanding (MoU) to expand investment opportunities in Saudi Arabia and strengthen collaboration in key sectors, particularly infrastructure and energy transition.
The agreement focuses on potential joint investments in areas such as digital infrastructure, electric vehicle infrastructure, and energy storage.
As part of the MoU, MAM plans to establish a regional office in Riyadh, further supporting PIF’s strategy to localize expertise and build partnerships with leading global investors.
PIF, one of the world’s largest sovereign wealth funds with approximately $925 billion in assets under management, has a mandate to generate sustainable returns while accelerating the diversification of Saudi Arabia’s economy.
MAM, managing more than $600 billion in assets, is among the world’s biggest infrastructure managers with over 175 portfolio companies worldwide.
The collaboration builds on existing partnerships between PIF’s National Infrastructure Fund (Infra), MAM, and other global investors to advance critical infrastructure and energy transition projects in the Kingdom.
Yazeed A. Al-Humied, PIF Deputy Governor and Head of MENA Investments, said the MoU represents “a significant milestone in attracting leading international infrastructure asset managers that can bring global capital and expertise to accelerate the delivery of Saudi Arabia’s infrastructure pipeline, while promoting knowledge sharing and capacity building in Saudi Arabia.”
Ben Way, Global Head of Macquarie Asset Management, said: “We are excited by the opportunities presented by Saudi Arabia’s economic transformation, and by furthering our relationship with PIF. By combining our expertise with the Kingdom’s bold vision, we see significant potential to deliver world-class projects that will underpin the Kingdom’s future development.”
The agreement complements PIF’s ongoing strategic partnerships through its MENA investments, supporting Vision 2030 by positioning Saudi Arabia as a global investment hub and a driver of sustainable growth. — SG
