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The asset management giant is committing US$500 million to the investment vehicle, while Saudi Arabia’s wealth fund, the Public Investment Fund, will contribute the rest alongside other regional and global partners. (Bloomberg)
Talking point: The fund will target growth and buyout deals across the Middle East in sectors such as finance, consumer services and technology. The region has been deepening business ties with global funds and governments, despite turmoil from the U.S.-Iran war. Earlier this month, Prime Minister Mark Carney travelled to Saudi Arabia to further trade and investment opportunities. Over the weekend, Kuwait agreed to a US$16 billion oil deal with Brookfield, Blackstone and KKR to lease and lease back pipeline usage rights, in what will be the largest ever foreign direct investment in the country.
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