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Brookfield Asset Management said in a statement that it secured around $2 billion in commitments for the Brookfield Middle East Partners fund from strategic anchor investors including the Public Investment Fund. The Canadian firm, which has more than $1 trillion in assets under management, is committing $500 million to the vehicle. The fund will invest in companies across Saudi Arabia and the wider Middle East.
The Brookfield Middle East Partners vehicle plans to allocate 50 percent of its investments to Saudi Arabia while seeking deals in the financial, industrials and technology sectors, according to the statement. Global private equity firms have increased their activity in the Gulf in recent years, attracted by major sovereign wealth funds and a growing pipeline of regional transactions especially in infrastructure. Brookfield has been active in the Middle East since 1997 and assembled a portfolio of more than $12 billion in managed assets across private equity, real estate and infrastructure, according to the Public Investment Fund.
Bruce Flatt, chief executive of Brookfield, said, “We see a compelling opportunity to partner with businesses across the region and position them for long-term growth.” He pointed to global confidence and strong demand for private equity opportunities in Saudi Arabia and the region. The statement described the fund as a platform to support businesses with international expertise and capital.
Yazeed A al-Humied, deputy governor and head of MENA Investments at the Public Investment Fund, said the partnership with Brookfield is designed to help anchor international private equity into Saudi Arabia and the region. “It will also accelerate deal flow while continuing to bring world-class expertise to the local capital market ecosystem,” al-Humied added. The arrangement builds on a memorandum of understanding the parties signed in 2024 to expand investment opportunities.
Brookfield formed part of a consortium that announced a $16 billion lease and leaseback agreement with Kuwait Petroleum Corp on Saturday for the energy company’s crude oil pipeline network. That transaction proceeded despite regional geopolitical tensions linked to the conflict involving Iran. The firm has executed other major deals in the area including acquiring a stake in ADNOC’s natural gas pipelines and investing in GEMS Education.
