The Public Investment Fund (PIF) and Macquarie Asset Management (MAM) have signed a memorandum of understanding (MoU) to advance investment opportunities and collaboration across key industries in Saudi Arabia. The agreement aims to support foreign institutional investment, strengthen the local asset management industry, and drive growth in the Kingdom’s economy.
Energy Transition
Under the MoU, PIF and MAM will explore joint investments in infrastructure and energy transition. Priority areas include digital infrastructure, electric vehicle infrastructure, and energy storage. As part of this partnership, MAM plans to establish a regional office in Riyadh, reinforcing PIF’s efforts to localize expertise and deepen cooperation with leading international investors.
Track Record, Global Reach
PIF, one of the world’s most influential investors, manages approximately $925 billion in assets. Its mandate goes beyond financial returns, focusing on sustainable growth and economic diversification in line with Saudi Arabia’s Vision 2030.
MAM brings more than 30 years of global experience and manages over $600 billion in assets. It is recognized as one of the largest infrastructure asset managers globally, overseeing more than 175 portfolio companies across multiple sectors.
This new agreement builds on PIF’s collaboration with the National Infrastructure Fund (Infra) and other global investors. Together, these partnerships aim to accelerate the delivery of essential infrastructure and energy transition projects across Saudi Arabia.
Leaders Highlight Significance
Yazeed Al-Humied, Deputy Governor and Head of MENA Investments at PIF, emphasized that the MoU represents a milestone in attracting international infrastructure asset managers:
“This MoU with MAM brings global capital and expertise to accelerate Saudi Arabia’s infrastructure pipeline while encouraging knowledge sharing and capacity building. It reflects PIF’s commitment to fostering international partnerships that drive local growth and development.”
Ben Way, Global Head of Macquarie Asset Management, expressed optimism about the collaboration:
“We are excited by the opportunities arising from Saudi Arabia’s economic transformation. Working alongside PIF, we aim to contribute our global expertise in scaling and managing transformative projects while nurturing local talent and sharing best practices.”
Supporting Vision 2030
The partnership complements PIF’s broader strategy of building strategic alliances in the MENA region. With a long-term approach, PIF continues to play a central role in positioning Saudi Arabia as a global investment hub, advancing economic diversification, and supporting sustainable growth under Vision 2030.
The MoU is non-binding and remains subject to regulatory and internal approvals before moving forward.
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