Sovereign wealth fund the PIF is positioning Saudi Arabia as a global hub for foreign investment and regional opportunities. AFPInfoCanadian firm says new vehicle aims to allocate half its investments to Saudi ArabiaThe NationalJuly 27, 2026Brookfield has raised about $2 billion from the Public Investment Fund and other investors for a private equity fund that will invest in companies in the Middle East, Saudi Arabia's sovereign wealth fund said on Monday.The PIF-anchored Brookfield Middle East Partners aims to allocate half of its investments to Saudi Arabia, it said. The vehicle will focus on sectors such as financial, business and consumer services, industry, technology and health care.“We see a compelling opportunity to partner with businesses across the region and position them for long-term growth,” Brookfield chief executive Bruce Flatt said.The Canadian firm, which has $1 trillion in assets under management, said it is committing $500 million to the new private equity fund. Brookfield's portfolio in the Middle East is valued at more than $16 billion with assets across private equity, property and infrastructure, it said.International firms are showing an appetite for investment in the region. The UAE emerged as a top-10 destination for foreign direct investment last year, worth $48.24 billion, according to a report from the UN Conference on Trade and Development published this month. Saudi Arabia ranked 13th.Despite the Iran war casting uncertainty over the global economic outlook, sovereign wealth funds have continued to pursue deals with outside investors. On Saturday, Brookfield joined Blackstone and KKR in a $16 billion agreement with Kuwait Petroleum Company to lease rights to its parent firm the Kuwait Oil Company's 13 pipelines.The latest developments indicate how the PIF, valued at nearly $1 trillion, is positioning Saudi Arabia as a global hub for foreign investment and regional opportunities, said Yazeed Al Humied, deputy governor and head of Mena investments at the fund.Mr Al Humied said its partnership with Brookfield will help anchor international private equity in the kingdom and the wider region.Updated: July 27, 2026, 4:47 PM