Wednesday 27 / November / 2024
Muscat: Rakiza, a private equity infrastructure fund investing in Oman and Saudi Arabia, which is co-managed by Oman Infrastructure Investment Management (OIM) and Equitix company, announced that it has received a capital commitment of OMR115 million from the Saudi Public Investment Fund (PIF).
Rakiza invests in infrastructure projects to generate stable returns, through a combination of exit-driven capital gains, and real income from assets.
The Fund focuses on investing in various sectors, namely renewables, power and water, social infrastructure, telecommunications, transport and logistics.
Muneer Ali Al Muneeri, CEO of Oman Infrastructure Investment Management, said: “Rakiza’s investment strategy is to foster capital market growth, foreign direct investment, and privatisation. As part of this, the Rakiza Fund is proud to partner with PIF, which greatly enhances strategic value for all stakeholders”.
Hugh Crossley, Equitix Co-Founder and CEO, said that this partnership will contribute to the fund’s commitment to its vision as it continues to invest and develop in essential infrastructure projects.
PIF is considered as one of the largest and most impactful sovereign wealth funds in the world and a major driving factor of economic transformation for Saudi Arabia.
