Saudi Investments and iSquared Target $2 Billion in Investments

The two parties, in collaboration with the Public Investment Fund’s portfolio companies, intend to explore numerous opportunities in digital infrastructure and district cooling systems, sectors of pivotal importance for the development and growth of the real estate sector.

I Squared Capital aims to allocate investments of up to $1 billion (equivalent to 3.75 billion riyals) for each party, with the potential to expand into other related areas within the Fund’s portfolio.

The memorandum of understanding aligns with the Public Investment Fund’s 2026–2030 strategic objectives, which focus on partnering with global investors on various opportunities within the Fund’s portfolio and maximizing value for its portfolio companies. The partnership will accelerate project delivery timelines and continue to attract capital across diverse investment opportunities.

Saud Al-Karoud, Head of the General Department for Local Real Estate Investments at the Public Investment Fund, stated: “The Public Investment Fund holds an unprecedented portfolio of modern real estate and infrastructure projects, which helps attract major global investors, maximize value, and achieve sustainable returns. This memorandum of understanding combines the Fund’s expertise and distinctive investment ecosystem with I Squared Capital’s capabilities and its extensive experience in the infrastructure sector.”

Potential deals arising from the memorandum of understanding are subject to fulfilling a set of requirements, including opportunity assessments by the parties and obtaining the necessary regulatory approvals.