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Thursday, 9 February 2017

Saudi Fund Said to Weigh Offering Billions for Buyout Expertise - Bloomberg

Saudi Fund Said to Weigh Offering Billions for Buyout Expertise - Bloomberg:

"Saudi Arabia’s sovereign wealth fund has discussed investing billions of dollars in global buyout funds as the kingdom seeks private equity’s help to manage its portfolio of companies at home, according to people familiar with the matter.

The Public Investment Fund -- with more than $100 billion worth of shares in listed local companies including Saudi Basic Industries Corp. and Saudi Telecom Co. -- has informally reached out to some of the world’s leading private equity firms to secure know-how and expertise to help improve these businesses, the people said, asking not to be identified as the deliberations are private.

Arrangements could include the buyout firms overseeing some of PIF’s portfolio companies for a fee, providing operating partners or taking minority stakes in individual companies, the people said. Talks about the potential partnerships are at a preliminary stage, and the wealth fund may elect not to proceed with any such ideas, they said."



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