Riyadh – Mubasher: Saudi Arabia-based Public Investment Fund (PIF) on Tuesday announced a partnership with US-based private equity firm Blackstone to launch $50 billion investment fund.
PIF will own a 40% stake in the new fund, according to Al Arabiya Channel.
Blackstone forecast that the new fund will collect $40 billion of the total value of the allocated sum, while $20 billion will be collected from other investors.
The US-based firm expects to invest more than $100 billion in infrastructure projects, especially in the US, in the coming period.
