RIYADH: Saudi Arabia’s wealth fund signed multiple memorandums of understanding with top international institutions at the eighth Future Investment Initiative in Riyadh, reinforcing its commitment to advancing the Kingdom’s asset management sector.
The Public Investment Fund Asset Management Forum was also featured as a central platform at the event, drawing over 300 industry leaders, government representatives, and fund managers.
MoU with FII Institute
Through an MoU with the Future Investment Initiative Institute, PIF established a partnership to make the Asset Management Forum a key feature of future FII events.
This move is intended to bring critical discussions about Saudi Arabia’s asset management sector to the forefront on both local and global stages.
Key topics addressed at the forum included the evolution of Saudi capital markets, the role of artificial intelligence in portfolio management, and the development of emerging local asset managers.
The forum also celebrated the graduation of the inaugural class from PIF’s Portfolio Management Development Program, aimed at upskilling talent to meet the growing demands of the industry.
Abdulmajeed Al-Hagbani, head of securities investments at PIF, said: “Strong and dynamic capital markets are an integral part of financing Saudi Arabia’s ambitious economic growth plans.”
He added: “PIF is committed to driving innovation and diversifying the range of investment products and initiatives to reshape the capital market.”
Deals with Japanese institutions
PIF signed agreements valued at up to $51 billion with five leading Japanese financial institutions, namely Mizuho Bank, Sumitomo Mitsui Financial Group, and MUFG Bank, as well as Japan Bank for International Cooperation and Nippon Export and Investment Insurance.
These agreements are designed to strengthen financial collaboration, facilitating two-way capital flows through debt and equity investments. This reflects PIF’s strategy to enhance global financial connectivity and encourage mutual growth opportunities in finance, investment, and sustainable development.
Partnership with Hong Kong Monetary Authority
In a significant step to reinforce economic ties, PIF also signed an MoU with the Hong Kong Monetary Authority to establish a $1 billion investment fund.
The fund, targeting companies with connections to Hong Kong and Saudi Arabia, will focus on manufacturing, renewables, fintech, and healthcare sectors.
This partnership aligns with Saudi Vision 2030 by supporting the localization of industries within the Kingdom, promoting highly skilled job creation, and enabling Saudi access to Hong Kong’s deep financial resources and industry expertise.
Collaborations with Brookfield, State Street, and Mizuho
Further expanding its international partnerships, PIF signed agreements with Brookfield Asset Management, State Street Saudi Arabia Financial Solutions, and Mizuho Financial Group.
The MoU with Brookfield establishes the Brookfield Middle East Partners platform, a private equity vehicle dedicated to investments in the Kingdom and the broader region.
Agreements with State Street and Mizuho will see the development of new investment products that enhance Saudi Arabia’s position in the global asset management sector.
These collaborations represented a concerted effort by PIF to introduce diversified investment opportunities and bring innovative products to the Saudi market.
The collected agreements are part of PIF’s broader strategy to position the Kingdom as a global asset management hub, reinforcing the nation’s standing in international capital markets and attracting foreign expertise to support sustainable economic growth.
