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](https://krugmaninsights.com/wp-content/uploads/2024/05/download-9-1024x682.jpeg)
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