Saudi Arabia commits $20bn to Blackstone fund

Saudi Arabia commits $20bn to Blackstone fund:

"Saudi Arabia’s Public Investment Fund said it has firmed up its $20bn commitment to a $40bn fund launched with US private equity firm Blackstone earlier this year.

Yasir al-Rumayyan, the PIF’s managing director, said the PIF needed to invest in “conventional investments,” such as medical care and education.

PIF, which is hosting a large investment conference in Riyadh, said it had committed to a $40bn Blackstone fund first announced in May. It has not signed up to a new $50bn Blackstone fund, as reported earlier."



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