Saudi Arabia’s Public Investment Fund (PIF) is launching new funds focused on the Gulf region. This initiative is part of a strategic partnership with Goldman Sachs Asset Management. Together, they aim to strengthen Saudi Arabia’s asset management industry.
The PIF, holding $925 billion in assets, will act as the anchor investor in the new funds. These funds will mainly target Saudi Arabia and other Gulf Cooperation Council (GCC) countries. Their goal is to attract global investors while supporting local markets.
Additionally, the funds will follow private credit and public equity strategies. On the credit side, they will lend to Gulf-based businesses. Companies trading heavily with the region will also benefit. Public equity investments will focus on firms listed on the Saudi stock exchange.
Furthermore, the funds will support businesses with strong ties to Saudi Arabia. This aligns with a wider effort to bring global financial players into the kingdom.
Goldman Sachs recently received approval to open its regional headquarters in Riyadh. This move strengthens the firm’s role in Saudi Arabia’s economic plans.
This partnership directly supports Vision 2030, led by Crown Prince Mohammed bin Salman. Vision 2030 seeks to diversify the economy and reduce dependence on oil. It also includes major infrastructure projects and industry development.
Moreover, the kingdom wants to modernize sectors and build global partnerships. Other global firms, including BlackRock, have already joined forces with the PIF.
These joint efforts reflect a trend of international cooperation. Together, they are shaping a stronger financial future for Saudi Arabia and the wider Gulf.
