I Squared Capital, a leading independent global infrastructure investment manager, and PIF have signed a non-binding memorandum of understanding (MoU) to establish a dedicated infrastructure investment strategy focused on the Middle East.
This strategic collaboration aims to accelerate investment into key infrastructure sectors across the region, promote foreign direct investment into Saudi Arabia, and support the nationโs transformation into a global hub for capital and innovation. The fund will seek to build connectivity across regional and global markets, drawing on I Squared Capitalโs sector expertise and global investment platform.
PIF is one of the worldโs most impactful investors, enabling the creation of new sectors and opportunities that help shape the global economy while driving the economic transformation of Saudi Arabia.
This MoU complements a series of PIF initiatives to promote further growth in the Saudi capital market ecosystem and enable a more robust international investment management sector based in Saudi Arabia.
As a specialist infrastructure investor, I Squared Capital brings extensive experience and expertise in developing and expanding infrastructure companies. The firm’s investment philosophy focuses on building businesses through direct engagement with management teams, applying a hands-on approach that drives both operational and commercial success. By leveraging this methodology in the context of the significant opportunities in Saudi Arabia, the partnership with PIF aims to support the nationโs ongoing infrastructure initiatives. This collaboration will provide enhanced operational leverage, control, and transparency for these projects, while also creating opportunities for like-minded private capital partners from around the world to invest in Saudi Arabia.
As part of its broader regional expansion, I Squared Capital has announced plans to open a new office in Riyadh in 2025. This office will focus on opportunities in energy transition, digital innovation, infrastructure development, and the development of capital marketsโkey pillars of the nationโs transformation agenda.
Sadek Wahba, Chairman and Managing Partner of I Squared Capital, said: โWe are proud to partner with PIF, one of the most respected and visionary sovereign wealth funds in the world. The MoU marks the continuation of a successful partnership between I Squared and PIF and is an important milestone in our commitment to the region and reinforces our belief in the Kingdomโs long-term potential as a destination for infrastructure investment and innovation.โ
The non-binding MoU remains subject to the satisfaction of certain required conditions including obtaining all necessary regulatory and internal approvals, among other milestones.
