Public Investment Fund of Saudi Arabia Commits $20 billion to Blackstone Private Equity
Public Investment Fund (PIF), the sovereign wealth fund of Saudi Arabia, has committed to pledge $20 billion to American private equity firm, Blackstone. The $20 billion will be invested into a $40 billion fund.
“Public Investment Fund of Saudi Arabia commits $20 billion to U.S. private equity firm Blackstone”
Blackstone expects to invest more than $100 billion, through debt & equity into infrastructure projects, principally in the United States. The new fund is a strategic partnership between Blackstone and PIF. The discussion first began in May 2016.
About Public Investment Fund
The Public Investment Fund is the sovereign wealth fund of Saudi Arabia. It was originally established in 1971 to invest in commercial projects. In addition to making select investments in a range of companies and assets domestically and internationally, the Fund has contributed to the establishment of numerous Saudi Arabian companies, supporting innovation, diversification and non-oil sector development in the Kingdom.
Visit: Public Investment Fund
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