Saudi PIF To Invest in Investcorp-Aberdeen Infrastructure Fund

Investcorp, a Bahrain-based firm that provides alternative investment products, announced that Aberdeen Standard Investcorp Infrastructure Partners (ASIIP) received a capital commitment from the Public Investment Fund (PIF) that amounts to about 20% of its total size.

The fund has also gotten the approval of the board of the Asian Infrastructure Investment Bank (AIIB) for a $90 million commitment.

Other global investors are expected to join the fund. This includes insurers, pension funds, endowments, family offices and private individuals.

PIF, the sovereign wealth fund of Saudi Arabia, is at the helm of the nation’s drive for economic growth and transformation.

The latest investment fulfils a core goal of the fund, which is to broker economic alliances which are strategic and pivotal to the exploration of the nation’s economic potentials and fund projects with the greatest potential to contribute to all-round growth in the near and far-off future.

“Today’s uncertain and challenging economic environment has created a gap between the need to develop or upgrade critical infrastructure and the resources available for such projects… We believe that investing in infrastructure is critical for supporting long-term economic growth.”

Co-CEO, Hazem Ben-Gacem

Investcorp’s Co-CEO, Hazem Ben-Gacem, said: “Today’s uncertain and challenging economic environment has created a gap between the need to develop or upgrade critical infrastructure and the resources available for such projects… We believe that investing in infrastructure is critical for supporting long-term economic growth.”