Reported 4 months ago
Saudi Arabia's Public Investment Fund's increasing focus on local projects like Neom has global asset managers concerned about a potential decrease in cash available for international investments. The fund, aiming to boost annual spending up to $70 billion, may shift away from global passive investments in private equity, infrastructure, and hedge funds towards domestic mega-projects. This contrasts with prior years when Middle Eastern wealth funds sought investments with global investors. The PIF's move to bolster spending amid budget deficits until 2026 has led to pressure to find new funding sources, potentially impacting international investments.
Source: YAHOO