Riyadh, May 14, 2025 - Saudi Arabia's Public Investment Fund (PIF) has announced major multi-billion dollar agreements with U.S. asset management firms including Franklin Templeton, Neuberger Berman, and BlackRock. These partnerships signify a significant move to enhance investment opportunities and diversify Saudi Arabia's economy, aligning with the Kingdom's Vision 2030 goals.
The deals, finalized on Wednesday, May 14, 2025, underscore the deepening economic ties between Saudi Arabia and the United States. The agreements aim to boost local asset management capabilities, increase investor participation, and strengthen the Kingdom's global financial standing.
Franklin Templeton will partner with PIF to invest up to $5 billion across Saudi equity and fixed-income strategies in both public and private markets. Neuberger Berman will launch a Riyadh-based multi-asset investment platform with up to $6 billion in assets. BlackRock will expand its relationship with PIF under the BlackRock Riyadh Investment Management platform, with PIF potentially allocating up to $5 billion. These strategic collaborations aim to drive investments into Saudi Arabia's financial markets from international and domestic investors, promote knowledge transfer, and foster innovation within the asset management sector.
These partnerships highlight PIF's role as a catalyst for financial transformation and align with the national agenda to diversify the economy and promote sustainable growth.
This article is based on our author's analysis of materials taken from the following resources: www.arabnews.com, www.reuters.com, www.marketscreener.com, and www.zawya.com.