RIYADH: Saudi Public Investment Fund (PIF) is set to become an anchor investor in a new $800 million Gulf infrastructure fund, set up by Aberdeen Standard Investments and Investcorp, the Financial Times reported, citing people briefed on the fund’s strategy.
Bahrain-based Investcorp, the Middle East’s largest alternative investment manager, is finalizing the infrastructure fund’s first close at about $250m, according to the people.
PIF will be joined by a large Asian institution as an anchor investor in the fund, which could be announced as early as next week.
The fund expects to focus on social infrastructure projects across the GCC, including health care, education, social housing, water and digitization, betting the new generation of Gulf leaders will prioritize social development within their economic transformation plans, the FT said.
