Saudi PIF commits up to $160 million to Gulf Infrastructure Fund

SourceArabian Business
SectorEconomy
CountrySaudi Arabia

The Aberdeen Standard Investcorp Infrastructure Partners fund has received the pledge from the PIF along with another $90 million commitment from the Asian Infrastructure Investment Bank

Saudi Arabia’s sovereign wealth fund has agreed to commit up to a fifth of a planned $800 million Middle East infrastructure fund being established by Aberdeen Standard Investments and Investcorp.

The Aberdeen Standard Investcorp Infrastructure Partners fund has received the pledge from the PIF along with another $90 million commitment from the Asian Infrastructure Investment Bank, according to a statement Thursday. The rest of the funding is expected to come from investors including pension funds, insurance companies, endowments, family offices and private clients, it said.

Aberdeen and Investcorp announced the fund two years ago with a view to channel investment into the Middle East’s health care, education and utilities industries. Former U.K.

Defense Secretary Michael Fallon was appointed chairman of the fund last month.

Investcorp, which counts Abu Dhabi sovereign wealth fund Mubadala Development Co. as a major investor, outlined a...read more...