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Gulf Today, Aug 3, 2022 | Muharram 5, 1444

Saudi PIF agrees $298m investment in Omani PE fund

Oman’s Rakiza, a private equity infrastructure fund investing in the Sultanate and Saudi Arabia, and is co-managed by Oman Infrastructure Investment Management (OIM) and Equitix company, said that it has received a capital commitment of RO115 million ($298 million) from the Saudi Public Investment Fund (PIF).

Rakiza invests in infrastructure projects to generate stable returns, through a combination of exit-driven capital gains, and real income from assets, reported Oman News Agency (ONA).

The fund focuses on investing in various sectors, namely renewables, power and water, social infrastructure, telecommunications, transport and logistics.

Muneer Ali Al Muneeri, CEO of OIM, said: “Rakiza’s investment strategy is to foster capital market growth, foreign direct investment, and privatization. As part of this, the Rakiza Fund is proud to partner with PIF, which greatly enhances strategic value for all stakeholders”.

Hugh Crossley, Equitix Co-Founder and CEO, said that this partnership will contribute to the fund’s commitment to its vision as it continues to invest and develop in essential infrastructure projects.

PIF is considered as one of the largest and most impactful sovereign wealth funds in the world and a major driving factor of economic transformation for Saudi Arabia.

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