Fund manager BlackRock Inc (BLK.N) and private equity firm Blackstone Group(BX.N) are planning to open offices in Saudi Arabia, encouraged by the investment opportunities offered by the kingdom, Crown Prince Mohammed bin Salman told Reuters.
His comments come as the Public Investment Fund (PIF), the country’s main sovereign wealth fund, is putting $20 billion into a $40-billion fund with Blackstone and unveiled plans to significantly boost its assets.
“PIF is setting a new role in the investment world,” Prince Mohammed said in an interview.
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