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Saudi Arabia's Hassana eyes investment in Brookfield Middle East fund

Hassana, the investment arm of Saudi Arabia's primary pension fund, is considering ending up being an anchor financier in Brookfield's new $2 billion Middle East fund, it stated on Thursday.

That would bring Hassana on board with the kingdom's PIF sovereign wealth fund, which revealed on Wednesday that it had entered a non-binding contract to become an anchor investor in the Brookfield Middle East Partners fund.

Hassana might assign approximately $500 million to the fund, in addition to Brookfield's own $500 million dedication, the statement said. PIF had actually not disclosed the size of its capacity support.

The Brookfield fund will target buyouts, structured services and other financial investment chances throughout a variety of sectors consisting of industrials, consumer and business services, technology and health care.

Hassana has actually become a progressively active international financier because the merger of the kingdom's General Organization of Social Insurance coverage and the general public Pension Company in 2021.

In a separate statement on Thursday, Hassana stated it was thinking about ending up being an anchor financier in a $1 billion Middle East-focused fund released by U.S. financial investment firm EIG. Hassana stated it would designate up to $250 million for the fund, which will target infrastructure and energy transition projects.

(source: Reuters)