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Rakiza Fund receives RO 115m in capital commitment from Saudi’s PIF

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MUSCAT: Oman Infrastructure Investment Fund (Rakiza), a Muscat-based investment fund managed jointly by Oman Infrastructure Investment Management (OIIM) and London-based Equitix, has announced a capital commitment of SAR 1.125 billion, equivalent to RO 115 million, from the Saudi Public Investment Fund.

The newly created fund is a private equity fund and an investor in infrastructure projects, targeting investment in the Sultanate of Oman and Saudi Arabia, focusing on the renewable energy, electricity, water and social services, communications, transport and logistics infrastructure sectors.

Muneer bin Ali al Muneeri, CEO of Oman Infrastructure Investment Management Company, said this partnership with the Saudi Public Investment Fund stems from the shared vision of Oman and Saudi Arabia in supporting the allocation of facilities and infrastructure. It is a key factor in the success of Rakiza’s investment strategy to promote capital market growth, attract foreign direct investment and privatisation. He explained that this partnership will promote and maximise the strategic value of stakeholders and stakeholders.

Hugh Crossley, CEO and co-founder of Equitix, said this partnership with leading institutional investors contributes to the Fund's commitments to infrastructure development and is a significant addition and development in the fund's history, looking forward to further growth in the region.

The Public Investment Fund is one of the most important and influential sovereign wealth funds in the world and the main driver of Saudi Arabia's economic transformation efforts. (OIA)

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