From Al-Eqtisadiah, Riyadh

Monday, July 13, 2026 14:32 | 2 minutes read

The Public Investment Fund signed a memorandum of understanding today with I Squared Capital, a specialist in managing infrastructure investments, through which I Squared will explore investment opportunities in real estate and essential infrastructure owned by the fund and its portfolio companies.

The two parties, in cooperation with the fund's portfolio companies, intend to study many available opportunities in the fields of digital infrastructure and district cooling systems, given their pivotal importance for the development and growth of the real estate sector. I Squared Capital seeks to allocate investments of up to $1 billion (3.75 billion riyals) for each, with the possibility of expansion to include other related areas within the fund's portfolio.

The memorandum of understanding aligns with the objectives of the Public Investment Fund's 2026-2030 strategy, which focuses on partnering with global investors in many opportunities within the fund's portfolio and maximizing value for its companies. The partnership will contribute to accelerating the pace of project completion and delivery, and continuing to attract capital in various investment opportunities.

I Squared Capital, which manages assets worth $60 billion, was founded in 2012 and has grown in size and scope of business to become one of the most diversified infrastructure investment companies globally. It invests in energy and utilities, transportation and logistics, digital infrastructure, and environmental and social infrastructure, providing essential services to millions of people around the world. Its portfolio includes 100 companies in 70 countries.

Tue, 07 2026

Saad Al-Karoud, Head of Local Real Estate Investments at the Public Investment Fund, said: "The fund has a wide portfolio of unprecedented real estate and infrastructure projects in the modern era, which helps attract major global investors, maximize value, and achieve sustainable returns. The memorandum combines the fund's expertise and qualitative investment ecosystem with I Squared's capabilities and long experience in the infrastructure sector."

Sadek Wahba, Chairman and Managing Partner of I Squared, said: "The memorandum reflects the mutual trust between I Squared and the Public Investment Fund, and supports our transition to the stage of actually contributing to the development and growth of infrastructure, and contributing to the Kingdom's and the Fund's success story in this field, which represents one of the most prominent successful experiences globally."

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