Saudi sovereign wealth fund PIF and I Squared Capital, a leading independent global infrastructure investment manager, has announced the signing of a MoU for I Squared to explore the deployment of up to $2 billion in real estate and infrastructure assets owned by the sovereign wealth fund and its portfolio companies.
As per the deal, the duo will work closely with PIF portfolio companies to identify opportunities in both digital infrastructure and district cooling, both critical enablers of the real estate sector.
I Squared will target allocating up to $1 billion in each of these areas with the option to scale across additional related business themes, said PIF in a statement.
The MoU aligns with PIF’s 2026-2030 strategic objectives to partner with global investors on opportunities within its portfolio and maximise value of PIF portfolio companies.
The collaboration is expected to further accelerate project delivery and increase the contribution of third‑party capital into opportunities across the portfolio.
Saad Alkroud, Head of Local Real Estate Investments, said: “PIF presents an unprecedented pipeline of real estate and infrastructure projects in the modern world, projects that continue to attract leading investors, foster sustainable value creation and generate commercially attractive returns.”
“This MoU brings together PIF’s capabilities, scale and ecosystems, alongside I Squared’s operational expertise and proven record in the infrastructure sector,” he stated.
Sadek Wahba, Chairman and Managing Partner of I Squared Capital, said its expanding partnership with PIF reflects the confidence and trust that has developed between the two institutions.
“With this MoU, we are evolving from partnership to action — with a shared conviction that PIF’s and Saudi Arabia’s infrastructure story is one of the most compelling in the world, and we look forward to contributing our global expertise alongside PIF in the Kingdom,” he noted.
I Squared is a leading independent global infrastructure investment manager, with investments in a diverse range of sectors encompassing energy infrastructure, utilities, transport and logistics, digital infrastructure, and social and environmental infrastructure.
PIF is one of the world’s most impactful investors, with a long-term investment strategy that aims to drive the economic transformation of Saudi Arabia and deliver sustainable financial returns..-TradeArabia News Service
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