PIF anchors Investcorp and Aberdeen Standard joint venture

The Saudi sovereign wealth fund has backed the social infrastructure-focused joint venture.

Institution: Public Investment Fund
Headquarters: Riyadh, Saudi Arabia
AUM: $430 billion

Investcorp has confirmed that Saudi Arabia’s Public Investment Fund will act as an anchor investor within Aberdeen Standard Investcorp Infrastructure Partners, a joint venture between the Bahrain-headquartered manager and Aberdeen Standard Investments.

PIF will commit up to 20 percent of the capital the vehicle will have raised by its anticipated first close, according to a press release on Investcorp’s website.

Investcorp and Aberdeen Standard jointly launched ASSIP in February 2019, with the vehicle targeting $800 million in equity capital. As of 10 June 2021, $250 million of that target has been met.

The vehicle is jointly managed by the two firms and focuses on investing in social and core infrastructure projects in Gulf Cooperation Council countries.

As illustrated below, PIF’s recent infrastructure commitments have focused on infrastructure equity vehicles investing across various regions and sectors.

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