The Public Investment Fund (PIF) and Macquarie Asset Management (MAM) have signed a Memorandum of Understanding to strengthen cooperation in infrastructure and energy transition sectors. According to PIF, this partnership will focus on digital infrastructure, electric vehicle infrastructure, and energy storage, aiming to attract foreign institutional investment and support the growth of Saudi Arabia’s asset management industry.
As part of the agreement, MAM plans to open a regional office in Riyadh, furthering PIF’s strategy of forming partnerships with top global investors. PIF currently manages around $925 billion in assets, while MAM oversees more than $600 billion, based on information provided by PIF.
The collaboration builds on existing work between PIF, the National Infrastructure Fund, and other international investors to accelerate critical infrastructure and energy projects. Yazeed A. Al-Humied, Deputy Governor and Head of MENA Investments at PIF, emphasized that this MoU will help bring global expertise and capital to Saudi Arabia, supporting the country’s infrastructure pipeline and knowledge sharing.
Ben Way, Global Head of Macquarie Asset Management, highlighted the potential for joint efforts to deliver transformative projects in line with Saudi Arabia’s economic transformation goals.
This initiative aligns with PIF’s broader strategy to drive economic diversification and support Vision 2030 by positioning Saudi Arabia as a key global investment destination. The MoU is non-binding and subject to regulatory and internal approvals.
