Canadian asset manager Brookfield has raised nearly $2B in the first close of its new Brookfield Middle East Partners fund, backed by Saudi Arabia’s Public Investment Fund (PIF) and other regional and international institutional investors.
The fund will invest in Saudi and Middle Eastern companies through full acquisitions, minority growth investments and other opportunities. Its focus includes financial and business services, retail, industrials, technology and healthcare, according to a joint announcement.
At least 50% of the fund’s capital will be invested in Saudi Arabia, with the remainder targeting high-growth markets across the Gulf region. Brookfield has committed $500M of its own capital to the fund, aligning its interests with participating investors.
PIF said the partnership is intended to attract more global capital to Saudi Arabia, accelerate transactions and bring international expertise to the local investment ecosystem. The fund is also part of PIF’s broader strategy of building global partnerships and expanding financing options for local companies.
Brookfield has invested directly in the region since 2015 and manages more than $16B in Gulf assets across private equity, real estate and infrastructure, according to the company.
Source: Jawlah
