PIF, BlackRock to launch multi-asset investment funds

The Public Investment Fund (PIF) and BlackRock announced today, Oct. 30, plans to launch a new range of joint investment funds spanning multiple asset classes and open to local and global investors through the BlackRock Riyadh Investment Management (BRIM) platform, during the PIF Asset Management Forum held alongside the ninth Future Investment Initiative (FII9).

The funds build on the success of BRIM, launched in April 2024 with initial backing from PIF, with the investment expected to be deployed at launch, while both sides strengthened their cooperation in May 2025 through a letter of intent to boost investment in Saudi equities.

The new BlackRock-PIF funds will focus on Saudi quantitative active equities and fixed-income instruments across the Middle East and North Africa, following the successful launch of Saudi quantitative equity strategies in January 2025 and the announcement of Saudi index strategies in May 2025.

BlackRock’s regional portfolio covers public and private markets, including infrastructure. The diversification supports the strength of Saudi capital markets and aligns with Vision 2030 goals.

The strategies are managed by BlackRock’s Riyadh-based team, reflecting the company’s commitment to developing local talent and supporting financial-sector growth in the Kingdom.

The statement added that the announcement is non-binding and subject to regulatory and internal approvals, as stated in the April 2024 memorandum of understanding.