The Public Investment Fund signs a memorandum of understanding with global I Squared Capital

The Public Investment Fund and I Squared Capital, a global independent infrastructure investment manager, announced today the signing of a memorandum of understanding to explore the company's investment opportunities in real estate and core infrastructure assets owned by the Fund and its portfolio companies.

The two parties, in cooperation with the Fund's portfolio companies, intend to study a number of investment opportunities in digital infrastructure and district cooling systems, given their importance in supporting the development and growth of the real estate sector.

According to the memorandum, I Squared Capital seeks to allocate investments of up to $1 billion (equivalent to SAR 3.75 billion) for each of the digital infrastructure and district cooling sectors, with the potential to expand in the future to include other related areas within the Fund's portfolio.

The memorandum of understanding aligns with the Public Investment Fund's strategic objectives for the period 2026-2030, which focus on strengthening partnerships with global investors, leveraging investment opportunities within the Fund's portfolio, and maximizing value for its companies, thereby accelerating project completion and delivery, and attracting more capital to various investment opportunities.

Saad Al-Krood, Head of Local Real Estate Investments at the Public Investment Fund, explained that the Fund owns an extensive portfolio of unprecedented real estate and infrastructure projects that contribute to attracting major global investors, maximizing value, and achieving sustainable returns. He noted that the memorandum combines the Fund's expertise and investment ecosystem with I Squared Capital's capabilities and long experience in the infrastructure sector.

For his part, Sadiq Wahba, Chairman of the Board and Managing Partner of I Squared Capital, affirmed that the memorandum reflects mutual trust between the company and the Public Investment Fund, and represents a step toward contributing to the development and growth of infrastructure, and supporting the Kingdom's and the Fund's journey in this field, which is considered one of the most prominent investment experiences globally.