Muscat: Oman Infrastructure Investment Management’s Rakiza has received of a capital commitment fund worth $300 million from Saudi Arabia’s Public Investment Fund (PIF).
Rakiza is co-managed by Oman Infrastructure Investment Management and Equitix, and focuses on the renewables, power and water, social infrastructure, telecommunications, and transport and logistics sectors, according to a report.
“The Sultanate of Oman and Kingdom of Saudi Arabia share public policy support for privatization and (are) key to Rakiza’s investment strategy to foster capital market growth, foreign direct investment, and privatization,” said Muneer Al Muneeri, CEO of Oman Infrastructure Investment Management.
Hugh Crossley, Equitix co-founder and CEO, said: “We are delighted to have secured PIF’s commitment and to continue our partnership with large institutional investors, delivering on our broader commitments to the team and their vision, as we continue to invest and develop in essential infrastructure projects.”
The Saudi Arabian cabinet has approved an initial agreement between the government and Oman in the field of food and water security.
