PIF, I Squared Capital Sign MoU for $2B Investment

Saudi Arabia's Public Investment Fund and I Squared Capital signed a memorandum of understanding to explore up to $2 billion in investments. The MoU is non-binding. Both parties said they would work toward identifying infrastructure and energy transition projects. I Squared Capital is a global infrastructure investment manager with about $40 billion in assets under management. The firm focuses on energy, utilities, digital infrastructure and transport. PIF, the sovereign wealth fund of Saudi Arabia, has been expanding its international co-investment partnerships. The deal would mark another push by the fund into infrastructure assets outside the kingdom. No timeline for a final investment decision was disclosed.