The Public Investment Fund (PIF) and King Street Capital Management Co., a global investment management firm, signed a non-binding memorandum of understanding (MoU).
Under the MoU, PIF will serve as a cornerstone investor in a new private credit fund focused on Saudi Arabia and the Middle East and North Africa (MENA) region.
In a statement, PIF said the fund will provide tailored financing solutions to companies and offer asset-based lending across Saudi Arabia and the MENA region. It will also have the flexibility to capture attractive credit opportunities in public markets, in addition to special situations.
PIF added that it continues to strengthen its strategic financial partnerships with leading global asset managers, aiming to develop Saudi Arabia’s capital markets and attract international capital and expertise through new investment strategies.
The partnership seeks to launch a credit fund dedicated to meeting the growing demand for capital from local and regional companies. PIF’s cornerstone investment is expected to support long-term foreign capital inflows and help finance key sectors.
It also noted that King Street has expanded its presence in Saudi Arabia and the MENA region in recent years to capitalize on investment opportunities, and is currently in the process of opening an office in Riyadh.
PIF indicated that the launch of the private credit fund and the approval of the cornerstone investment remain subject to certain conditions precedent, including the signing of final binding agreements, obtaining all necessary regulatory and internal approvals, and completing specific procedures.
The Public Investment Fund (PIF) and King Street Capital Management Co., a global investment management firm, signed a non-binding memorandum of understanding (MoU).
Under the MoU, PIF will serve as a cornerstone investor in a new private credit fund focused on Saudi Arabia and the Middle East and North Africa (MENA) region.
In a statement, PIF said the fund will provide tailored financing solutions to companies and offer asset-based lending across Saudi Arabia and the MENA region. It will also have the flexibility to capture attractive credit opportunities in public markets, in addition to special situations.
PIF added that it continues to strengthen its strategic financial partnerships with leading global asset managers, aiming to develop Saudi Arabia’s capital markets and attract international capital and expertise through new investment strategies.
The partnership seeks to launch a credit fund dedicated to meeting the growing demand for capital from local and regional companies. PIF’s cornerstone investment is expected to support long-term foreign capital inflows and help finance key sectors.
It also noted that King Street has expanded its presence in Saudi Arabia and the MENA region in recent years to capitalize on investment opportunities, and is currently in the process of opening an office in Riyadh.
PIF indicated that the launch of the private credit fund and the approval of the cornerstone investment remain subject to certain conditions precedent, including the signing of final binding agreements, obtaining all necessary regulatory and internal approvals, and completing specific procedures.
