PIF, Macquarie Asset Management sign MoU to advance investment opportunities in key Saudi sectors

The Public Investment Fund (PIF) and Macquarie Asset Management (MAM) signed a memorandum of understanding (MoU) to advance investments and collaboration in key sectors and industries, support foreign institutional investment in Saudi Arabia’s economy, and further enhance the asset management industry in the Kingdom.

Under the MoU, PIF and MAM will explore potential joint investments in the infrastructure and energy transition sectors, including priority areas such as digital infrastructure, electric vehicle infrastructure, and energy storage, the Kingdom’s sovereign wealth fund said today, Sept. 8 in an emailed statement to Argaam.

The MoU aligns with the fund’s strategy to boost Saudization and form partnerships with top global investors and operators. MAM will seek to establish a regional office in Riyadh, PIF added.

The sovereign fund is one of the world’s most impactful investors, with approximately SAR 3.47 trillion in assets under management. It has a unique mandate to generate sustainable financial returns while driving the economic diversification and development of Saudi Arabia.

MAM, with over 30 years of experience, manages more than $600 billion in client assets, making it one of the world’s largest infrastructure asset managers, overseeing 175+ portfolio companies across various sectors.

The MoU builds on the ongoing collaboration between PIF and the National Infrastructure Fund (Infra), and between Infra, MAM and other leading global investors to enable and accelerate the delivery of critical infrastructure and energy transition projects.

The non-binding MoU is subject to certain requirements, including all necessary regulatory and internal approvals.