Oman's Rakiza infrastructure fund closes at more than $1 bln | Reuters
Infrastructure investor Rakiza, which was set up to invest in Oman and Saudi Arabia, on Tuesday said it had closed its first fund at more than $1 billion.
The fund has already deployed 25% of its capital across three projects in Oman and several other investments are close to financial completion, including its first acquisition in Saudi Arabia, Rakiza said in a statement.
Saudi Arabia's Public Investment Fund (PIF) put 1.13 billion riyals ($300.8 million) into Rakiza last year.
Saudi Arabia has stepped up investments into Oman in the past year or so in a show of support for one of the Gulf's weaker economies as it recovers from the impact of the COVID-19 pandemic.
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