PIF and I Squared Capital Sign MoU for Up to US$2 Billion in Infrastructure Investments
The collaboration is expected to support project delivery across its portfolio while increasing participation from third-party investors.
You're reading Entrepreneur Middle East, an international franchise of Entrepreneur Media.
Saudi Arabia’s Public Investment Fund (PIF) has signed a memorandum of understanding (MoU) with I Squared Capital, a global infrastructure investment manager, to explore investments of up to US$2 billion in real estate and infrastructure assets owned by PIF and its portfolio companies.
Under the agreement, I Squared Capital will work with PIF portfolio companies to identify investment opportunities in digital infrastructure and district cooling, with the firm aiming to allocate up to US$1 billion to each sector. The companies said the investment scope could expand to include additional related sectors.
According to PIF, the collaboration supports its 2026-2030 strategy of partnering with international investors to increase third-party capital participation across its portfolio while enhancing value creation.
“PIF presents an unprecedented pipeline of real estate and infrastructure projects in the modern world, projects that continue to attract leading investors, foster sustainable value creation and generate commercially attractive returns,” Saad Alkroud, Head of Local Real Estate Investments at PIF, said. “This MoU brings together PIF’s capabilities, scale and ecosystems, alongside I Squared’s operational expertise and proven record in the infrastructure sector.”
Sadek Wahba, Chairman and Managing Partner of I Squared Capital, added: “I Squared’s expanding partnership with PIF reflects the confidence and trust that has developed between the two institutions. With this MoU, we are evolving from partnership to action — with a shared conviction that PIF’s and Saudi Arabia’s infrastructure story is one of the most compelling in the world, and we look forward to contributing our global expertise alongside PIF in the Kingdom.”
PIF said the collaboration is expected to support project delivery across its portfolio while increasing participation from third-party investors.
The sovereign wealth fund is one of Saudi Arabia’s principal investment vehicles, with a mandate to support the Kingdom’s economic transformation through long-term investments.
I Squared Capital invests across sectors including energy, utilities, transport and logistics, digital infrastructure, and social and environmental infrastructure.
The organizations noted that any transactions resulting from the non-binding memorandum of understanding remain subject to further evaluation by both parties and the completion of regulatory requirements.
RELATED: TikTok x Blossom AI Hackathon Highlights Emerging AI Talent in Saudi Arabia
Saudi Arabia’s Public Investment Fund (PIF) has signed a memorandum of understanding (MoU) with I Squared Capital, a global infrastructure investment manager, to explore investments of up to US$2 billion in real estate and infrastructure assets owned by PIF and its portfolio companies.
Under the agreement, I Squared Capital will work with PIF portfolio companies to identify investment opportunities in digital infrastructure and district cooling, with the firm aiming to allocate up to US$1 billion to each sector. The companies said the investment scope could expand to include additional related sectors.
According to PIF, the collaboration supports its 2026-2030 strategy of partnering with international investors to increase third-party capital participation across its portfolio while enhancing value creation.
Entrepreneur Middle East Staff
Entrepreneur Staff
