
Corporate Moves
Neuberger Berman, PIF to Deploy $6B in Saudi Investments
The duo will launch a multi-asset program to support the growth of the asset management industry in Saudi Arabia.
The $990 billion Public Investment Fund signed four joint venture deals involving solar, wind and green hydrogen projects.
The SWFs also are pushing more into real estate as valuations drop, report says.
The kingdom, one of the top producers of carbon-based fuel, and the asset management kingpin form an investment partnership.
Having bought a U.K. football club and lured major players, the kingdom fortifies its homegrown teams financially.
Receiving 6% of the oil behemoth’s equity, the fund has a long-term goal of diversifying the economy away from oil.