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PGIM, a global asset manager with $1.5 trillion in assets under management, has partnered with Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), to co-develop investment opportunities across public and private markets.
The firms have signed a memorandum of understanding to support the continued development of Saudi Arabia’s financial markets.
Together, PGIM and PIF, whose assets exceed $1 trillion, will assess opportunities to co-develop advanced quantitative and algorithmic investment solutions, alongside a range of public and private market strategies spanning equities, fixed income, real estate and alternatives.
The partnership follows PIF’s recent agreement to anchor King Street Capital Management’s new private credit fund targeting Saudi Arabia and the wider MENA region.
(Writing by Brinda Darasha; editing by Seban Scaria)
