Saudi wealth fund takes its capital pitch to Wall Street
PIF and some of its portfolio companies are courting investors including Blackstone and Carlyle this week to fill its funding gap.
Saudi Arabia’s Public Investment Fund (PIF) is reaching out to Wall Street’s leading investment firms in New York this week to discuss potential foreign backing for its spending plans, amid domestic cash constraints. PIF’s senior leadership, alongside representatives from key companies such as AI firm HUMAIN, King Abdullah Financial District, and Red Sea Global, will engage with investors, including Apollo, Blackstone, Brookfield, Carlyle, KKR, Stonepeak, and the US Export-Import Bank.
The delegation, organized by Lazard, aims to familiarize investors with PIF’s portfolio, paving the way for future debt or equity fundraising from global investors. While PIF has spent nearly $1 trillion over the past decade on companies and real estate projects, its efforts have yet to fully materialize, with the kingdom attracting only $32.6 billion in net inflows last year, falling short of its $100 billion FDI target by 2030.
The fund’s upcoming five-year plan emphasizes diversifying financial returns, bolstering private sector participation, and increasing external capital. Recent scaling back of some high-profile investments, such as LIV Golf and NEOM, underscores the urgency of attracting external capital to reduce PIF’s reliance on state finances.
Written by urgent.news from Semafor's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
