Riyadh — Mubasher: US private equity firm Blackstone Group’s infrastructure fund started negotiations to acquire a minority stake in Seattle-based port operator Carrix, people familiar with the matter told Bloomberg News.
In 2018, Saudi Arabia’s sovereign wealth fund, Public Investment Fund (PIF), pledged as much as $20 billion to help Blackstone Group build the world’s largest infrastructure fund.
The kingdom’s sovereign investor was seeking to own a 40% stake in the new fund.
It’s unclear whether an investment in Carrix would use cash from the PIF, the New York-based news agency noted, adding that the value of the stake couldn’t immediately be learned.
