Riyadh – BETH | September 8, 2025

The Public Investment Fund (PIF) has signed a Memorandum of Understanding (MoU) with Macquarie Asset Management, aiming to enhance joint investments in priority strategic sectors and industries, support the inflow of international institutional capital into the Saudi economy, and further develop the local asset management sector.

Key Areas of the MoU:

Joint investment opportunities in infrastructure, energy transition, digital infrastructure, electric vehicle infrastructure, and energy storage.

Opening a regional office for Macquarie in Riyadh to support long-term expansion and partnerships.

Strengthening cooperation between PIF and the National Infrastructure Fund (Infra) on one hand, and Macquarie along with other major international investors on the other, to accelerate project implementation.

The Partners’ Standing:

Public Investment Fund (PIF): One of the world’s most influential investors with assets under management exceeding SAR 3.47 trillion, working to deliver sustainable returns and diversify the Saudi economy in line with Vision 2030.

Macquarie Asset Management: With over 30 years of experience, the company manages more than USD 600 billion in client assets and oversees more than 175 companies across sectors, ranking among the world’s largest infrastructure asset managers.

Statements:

Yazid Al-Humied, Deputy Governor and Head of Middle East and North Africa Investments at PIF: Emphasized that the MoU is a key step toward attracting top global asset managers in the infrastructure sector, leveraging their ability to bring international investments and expertise to accelerate local infrastructure projects, transfer knowledge, and build local capabilities.

Ben Way, Global Head of Asset Management at Macquarie: Highlighted that the MoU strengthens ties with PIF and opens opportunities to deliver global expertise in developing and managing transformative projects, focusing on local talent development and sharing best practices.

Strategic Dimensions:

The MoU is part of PIF’s broader strategy to establish international partnerships that support its investments across the Middle East and North Africa, capitalize on regional opportunities, and implement market strategies that promote sustainable growth and reinforce Saudi Arabia’s position as a global investment hub.