DUBAI: Saudi Arabia's $925 billion sovereign wealth fund PIF signed a preliminary agreement with Macquarie Asset Management (MAM) to advance investments in areas such as infrastructure and energy, they said on Monday.

Under the Memorandum of Understanding (MoU), the two firms will explore potential joint investments in sectors in Saudi Arabia, such as digital infrastructure, electric vehicle infrastructure and energy storage, they said in a joint statement.

(Reporting by Federico Maccioni, Editing by Louise Heavens)