PIF signs MoU to act as strategic anchor investor for BMEP

Signing ceremony

The Public Investment Fund (PIF) signed today, Oct. 30, a non-binding memorandum of understanding (MoU) with Brookfield Asset Management (BAM) to act as a strategic anchor investor for Brookfield Middle East Partners (BMEP), a new private equity investment platform for the Kingdom and the region.

The MoU was signed during the Future Investment Initiative (FII) Forum in Riyadh, according to a statement by the PIF.

The BMEP aims to raise $2 billion from a broad investor base, with PIF as a key initial backer.

The private equity vehicle will focus on acquisitions, structural solutions, and strategic sector investments, including industrials, consumer services, tech, and healthcare. At least half of the capital will be allocated to investments in the Kingdom and international firms expanding into Saudi Arabia, boosting foreign direct investment.

The partnership will be based on PIF’s and Brookfield’s expertise to drive equity investments, fuel economic growth, and reinforce Saudi Arabia’s investment profile.

The MoU remains non-binding, subject to regulatory and internal approvals and a range of specified objectives.

Brookfield plans to expand its Riyadh office and launch local educational services through Brookfield Academy.

Brookfield, a top foreign investor in the GCC, has been investing directly since 2015, building a portfolio exceeding $12 billion across private equity, real estate, and infrastructure.