RIYADH: Saudi Arabia’s Public Investment Fund has secured up to $2 billion from global investor I Squared Capital for its real estate and infrastructure portfolio.
Under the agreement announced in Riyadh, I Squared will target allocating up to $1 billion each toward digital infrastructure and district cooling projects, both seen as critical enablers of the real estate sector, with room to scale into related business areas.
As one of the world’s largest sovereign wealth funds, PIF plays a central role in Saudi Arabia’s Vision 2030 transformation. The fund has increasingly turned to international co-investors to help fund its expanding portfolio of real estate and infrastructure developments, a key priority under its 2026-2030 strategy.
According to a press release, Saad Al-Kroud, head of local real estate investments at PIF, said the fund presents “an unprecedented pipeline of real estate and infrastructure projects in the modern world” that continue to draw leading investors and generate strong returns.
“This MoU brings together PIF’s capabilities, scale and ecosystems, alongside I Squared’s operational expertise and proven record in the infrastructure sector,” he added.
