Saudi PIF to Back Aberdeen Standard Investcorp Infrastructure Partners Fund
Posted on 06/10/2021
Saudi Arabia’s Public Investment Fund (PIF), the kingdom’s big sovereign wealth fund, is set becoming an anchor investor in an infrastructure fund called Aberdeen Standard Investcorp Infrastructure Partners. This fund is jointly launched by Aberdeen Standard Investments and Bahrain-based Investcorp. PIF is committing up to 20% of the total fund size (up to US$ 160 million), which could be as big as US$ 800 million.
Another disclosed investor is the Asian Infrastructure Investment Bank (AIIB) committing US$ 90 million to the fund.
The fund will target investments in the Middle East and North Africa region by investing in sustainable core infrastructure projects. Former U.K. Defense Secretary Michael Fallon was appointed chairman of the fund in May 2021.
