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BlackRock, the world's largest asset manager, has announced a strategic partnership with Saudi Arabia's Public Investment Fund (PIF) to launch a new investment platform based in Riyadh. The initiative, which involves an investment of up to $5 billion from PIF, aims to strengthen Saudi Arabia's capital markets by encouraging diverse asset investments. This collaboration marks a significant expansion of BlackRock's operations in the Middle East, where they plan to build a dedicated Riyadh-based investment team.
Saudi Arabia’s Public Investment Fund and BlackRock announced a partnership on Tuesday to launch a multi-asset investment management platform based in Riyadh. https://t.co/cxEixGHOgL
⚠️ NEW YORK CITY PENSION LEADER OPPOSES ELECTION OF ARAMCO'S CHIEF AS BLACKROCK DIRECTOR Full Story → https://t.co/lpLc3HGaLC A pension fund for New York City employees urged BlackRock's shareholders to vote against the election of Saudi Aramco's chief executive as… https://t.co/VQlpnNODYp
BlackRock, $BLK, is set to get as much as $5 billion from Saudi Arabia’s sovereign wealth fund to invest in the Middle East and build a Riyadh-based investments team, per Bloomberg.