Brookfield Announces Approximately $2 Billion First Close of PIF-anchored Middle East-Focused Fund

Brookfield today announced the first close of PIF-anchored Brookfield Middle East Partners (“BMEP”), a new private equity fund dedicated to investing in businesses based in Saudi Arabia and the wider Middle East region, raising approximately $2 billion from a group of strategic anchor investors comprising PIF and other global and regional institutional partners.

BMEP leverages Brookfield’s expertise through its offices in Riyadh and across its broader global network to pursue buyouts, minority growth equity and other investment opportunities across a range of sectors including financial, business and consumer services, industrials, technology and healthcare. Capital from the fund will be allocated to investments in the Middle East with a focus on Gulf Cooperation Council (GCC) in high-growth markets. The fund targets allocating 50% of its investments in Saudi Arabia, as PIF continues to attract capital inflow.

PIF is an anchor investor in the newly launched fund, as part of its strategy to maximize returns and deliver long-term value through global partnerships. PIF partnerships are key to leveraging investment opportunities and fostering economic development, while enabling the development of local talent and capabilities.

The investment marks another step in PIF’s strategy to further deepen and diversify the Saudi capital market by partnering with global investors on commercially attractive opportunities, empowering financial institutions, broadening financing options for local businesses and introducing new products.

Brookfield is committing $500 million to the fund consistent with its longstanding approach of ensuring alignment with its partners.

As part of this initiative, Brookfield will make the Brookfield Academy available in Saudi Arabia. Founded in 2019, the Brookfield Academy provides interactive learning opportunities for Brookfield partners’ professionals.

PIF is one of the world’s most impactful investors, with a long-term investment strategy to further drive the economic transformation of Saudi Arabia and deliver sustainable financial returns.

Considered as one of the largest foreign direct investors in the GCC, Brookfield has been directly investing in the region since 2015. It has built a portfolio of over $16 billion of managed assets across private equity, real estate and infrastructure.