Rakiza, a private equity infrastructure fund investing in Oman and Saudi Arabia, which is co-managed by Oman Infrastructure Investment Management (OIM) and Equitix, has received a capital commitment of $300 million from the Public Investment Fund (PIF).
Rakiza invests in infrastructure projects to generate stable returns, through a combination of exit-driven capital gains, and real income from assets. The Fund invests in Saudi Arabia and Oman, focusing on the renewables, power and water, social infrastructure, telecommunications, and transport and logistics sectors.
PIF is one of the largest and most impactful sovereign wealth funds in the world and a driving transformation for Saudi Arabia’s economy. PIF’s investment in Rakiza is in line with its mission to build strategic economic partnerships to achieve sustainable returns and unlock promising economic opportunities across the country. PIF deploys capital to enable strategic sectors with significant long-term growth potential that will contribute to maximizing its assets and diversifying Saudi Arabia’s economy in line with Vision 2030.
Muneer Al Muneeri, OIM CEO, said: “We are very pleased to be announcing our partnership with PIF, one of the largest sovereign wealth funds in the world. The Sultanate of Oman and Kingdom of Saudi Arabia share public policy support for privatisation and is key to Rakiza’s investment strategy to foster capital market growth, foreign direct investment, and privatization. As part of this, the Rakiza Fund is proud to partner with PIF, which greatly enhances strategic value for all our stakeholders”.
Hugh Crossley, Equitix Co-Founder and CEO, said: “We are delighted to have secured PIF’s commitment and to continue our partnership with large institutional investors, delivering on our broader commitments to the team and their vision, as we continue to invest and develop in essential infrastructure projects. This is an exciting development in Rakiza’s history and we look forward to continuing our growth within the region”.
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