RIYADH/NEW YORK — Brookfield has announced the first close of Brookfield Middle East Partners (BMEP), a new private equity fund anchored by Saudi Arabia’s Public Investment Fund (PIF), raising approximately $2 billion to invest in businesses across Saudi Arabia and the wider Middle East.
The fund aims to allocate 50% of its investments to Saudi Arabia, reinforcing PIF’s strategy of attracting international capital while supporting the Kingdom’s economic transformation.
BMEP will invest in buyouts, minority growth equity and other opportunities across sectors including financial and business services, consumer services, industrials, technology and healthcare. The fund will focus on high-growth markets across the Gulf Cooperation Council (GCC).
PIF is serving as an anchor investor in the fund as part of its strategy to maximize long-term returns through global partnerships while fostering economic development and strengthening local capabilities.
The sovereign wealth fund said the investment supports its efforts to deepen and diversify Saudi Arabia’s capital markets by partnering with international investors, expanding financing options for local businesses and introducing new investment products.
“PIF continues to build upon Saudi Arabia’s position as a global hub for investments through partnering with international industry leaders,” said Yazeed A. Al-Humied, Deputy Governor and Head of MENA Investments at PIF. “Our partnership with Brookfield is designed to help anchor international private equity into Saudi Arabia and the region.”
Brookfield Chief Executive Officer Bruce Flatt said the fund reflects growing international confidence in investment opportunities across Saudi Arabia and the Middle East.
“We see a compelling opportunity to partner with businesses across the region and position them for long-term growth,” Flatt said.
Brookfield will commit $500 million to the fund, aligning its investment alongside those of its partners.
As part of the initiative, Brookfield will also introduce the Brookfield Academy in Saudi Arabia, offering professional development and interactive learning programs for investment professionals.
Brookfield has invested in the Middle East for nearly three decades and has managed more than $16 billion in assets across private equity, real estate and infrastructure in the region since making direct investments beginning in 2015.
PIF is one of the world’s largest sovereign wealth funds and plays a central role in advancing Saudi Vision 2030 through investments aimed at diversifying the Kingdom’s economy and generating sustainable long-term returns.
Source: Saudi Gazette