RIYADH: Brookfield Corp. has raised approximately $2 billion in the first close of a Public Investment Fund-backed private equity vehicle targeting Saudi Arabia and the wider Middle East.
Brookfield Middle East Partners secured commitments from strategic anchor investors, including PIF and other global and regional institutional investors, according to a joint statement.
Brookfield will invest $500 million alongside its partners, although neither the size of PIF’s commitment nor the fund’s final fundraising target was disclosed.
The announcement follows the approval of PIF’s 2026-2030 strategy in April, which focuses on maximizing financial returns, improving investment efficiency, and increasing private-sector participation.
Yazeed Al-Humied, PIF’s deputy governor and head of Middle East and North Africa investments, said: “Our partnership with Brookfield is designed to help anchor international private equity into Saudi Arabia and the region.”
