May 22, 2017 Comments Off on Blackstone Launching $40B U.S. Infrastructure Investment Vehicle with Saudi Arabia Views: 1715 Midwest, National News, Northeast, Southeast, Southwest, Top National Stories, West

Blackstone Launching $40B U.S. Infrastructure Investment Vehicle with Saudi Arabia

Blackstone and the Public Investment Fund (PIF) of Saudi Arabia plan to launch a new investment vehicle dedicated to infrastructure with an anchor $20-billion contribution by Saudi Arabia’s main sovereign wealth fund. The program is expected to have $40 billion in total equity commitments in a permanent capital vehicle, including $20 billion raised from other investors.

Between the vehicle and additional debt financing, Blackstone expects to invest in more than $100 billion of infrastructure projects, principally in the United States.

PIF’s H.E. Yasir Al Rumayyan said, “This potential investment reflects our positive views around the ambitious infrastructure initiatives being undertaken in the United States as announced by President Trump, and the strategic opportunity for the Public Investment Fund to achieve long-term returns given historical investment shortfalls.”

Blackstone and PIF executed a non-binding memorandum of understanding, with negotiations continuing towards a definitive agreement.

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