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Brockville raises $2B for Middle East fund
Canada's Brookfield Company announced the collection of approximately two billion dollars in the first phase of a new fund aimed at investing in companies within the Kingdom of Saudi Arabia and the Middle East region, supported by the Saudi Public Investment Fund and international investment institutions. The fund aims to allocate 50% of its capital to the Saudi market, focusing on full acquisitions and investments in minority stakes to finance growth in sectors such as financial services, retail, industry, technology, and healthcare. The announcement did not specify the final size of the fund or the Public Investment Fund's contribution, but it added that Brookfield will inject 500 million dollars of its own capital to support managers. The goal is to attract global capital and strengthen the local financial market as part of a strategy to diversify sources of funding and increase collaboration with the private sector. This initiative aligns with Saudi efforts to accelerate deals and stimulate economic growth by attracting international asset managers.
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