BlackRock is opening a Saudi investment firm with initial $5 billion from PIF
Publishing timestamp: 2024-05-01 12:42:04
Summary
BlackRock to launch investment platform in Riyadh with $5 billion anchor investment from Saudi Arabia's Public Investment Fund to support Vision 2030 goals of modernizing and diversifying the kingdom's economy. The new platform, BlackRock Riyadh Investment Management (BRIM), aims to bring foreign institutional investment into Saudi Arabia and develop the local asset management industry.
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Keywords: riyadh, middle east, economy, breaking news: economy, emerging markets, blackrock inc, saudi arabia, business news,