The $990 billion Public Investment Fund signed four joint venture deals involving solar, wind and green hydrogen projects.
The kingdom, one of the top producers of carbon-based fuel, and the asset management kingpin form an investment partnership.
The capital infusion into the sovereign wealth pool is meant to aid the kingdom’s bid to diversify its economy.
The deal includes French private equity firm Ardian acquiring a 15% stake in FGP TopCo, leaving the Qatar Investment Authority as the largest shareholder.
Expect higher oil prices, but these likely will not be crippling, strategists say.
Despite the loss, the fund’s AUM grew to approximately $595 billion thanks to a 4% share transfer from Saudi Aramco.
Having bought a U.K. football club and lured major players, the kingdom fortifies its homegrown teams financially.
Crude prices leap as Saudi oil minister says cartel needs to cut back production.
Geopolitics will continue to roil the investment landscape for US investors, experts warn.
Backed by the state sovereign wealth fund PIF, the idea to build a carbon-free city called ‘The Line’ at business hub NEOM was unveiled by the crown prince.
WWE lawyer calls accusations of insider trading by CEO Vince McMahon ‘entirely fictional.’
