Asset manager BlackRock will launch an investment platform in Riyadh with the help of a $5 billion anchor investment from Saudi Arabia's Public Investment Fund , the kingdom's sovereign wealth fund.BlackRock CEO Larry Fink said in a statement that the kingdom "has become an increasingly attractive destination for international investment as Vision 2030 comes to life."The BlackRock logo is displayed at the company's headquarters in New York City on Nov. 14, 2022.
BlackRock, the world's largest asset manager with $10 trillion in assets under management, will "launch investment strategies across asset classes for the Saudi market, including both public and private markets, managed by a Riyadh-based investment team," a joint press release from the firm and the PIF read.