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BlackRock, Saudi Sovereign Wealth Fund: Launch of New Riyadh-based Investment Firm

BlackRock has teamed up with Saudi Arabia’s sovereign wealth fund to establish BlackRock Riyadh Investment Management, a new investment firm based in Riyadh.

A logo sits on display in the atrium of the BlackRock Inc. offices in London. Photo: Getty Images
A logo sits on display in the atrium of the BlackRock Inc. offices in London. Photo: Getty Images

This venture is set to manage a varied portfolio of assets, starting with a robust $5 billion from the Saudi Public Investment Fund (PIF).

This new firm aims to bolster the capital markets in Saudi Arabia and attract more foreign institutional investors, aligning with the country’s

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