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 announcement Tuesday followed the signing of a memorandum of understanding between BlackRock's Saudi division and the PIF with the aim of spurring capital markets growth in the oil-rich Gulf country. Central to that effort is bringing major international institutions, investment, and foreign talent into Saudi Arabia itself.further growth in the Saudi capital market ecosystem and enable a growing international investment management sector based in Saudi Arabia," the press statement said.
South Africa South Africa Latest News, South Africa South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: CNBC - 🏆 12. / 72 Read more »