The firm has already invested more than $35bn across Saudi equities, fixed income, and infrastructure. It now operates four investment teams in Riyadh under the leadership of Kashif Riaz, who heads BlackRock's Financial Markets Advisory business in the Middle East. 'We think we've just gotten started with the theme of the Middle East as an investment destination,' Riaz said, noting that the firm sees its future Saudi exposure growing substantially. He identified infrastructure as the most compelling opportunity as Saudi Arabia builds out transport networks, expands the Riyadh metro, develops one of the world's largest new airports, and accelerates data-centre construction through its AI champion Humain. The expected expansion aligns with the increasing role of private capital in Saudi Arabia's economic transition. BlackRock and its Global Infrastructure Partners division have already led several landmark transactions, including an $11bn deal involving Aramco's natural gas facilities and participation in the $40bn acquisition of Aligned Data Centers alongside Abu Dhabi's MGX....

The group reported '4.9bn in net new business for the quarter, excluding joint ventures and associates, compared to '0.3bn in Q3 2024. Year-to-date inflows totalled '9.4bn, marking a strong turnaround from '3.6bn a year earlier and representing Schroders' fourth successive quarter of positive net new business. Asset Management AUM rose from '541.7bn to '573.6bn, driven by '4.4bn in net inflows and '28.9bn from markets, currency movements, and investment performance. Public Markets contributed most of the growth, with significant inflows of '6.7bn into core solutions and strong demand for global and European fixed income strategies. Schroders Capital, the group's private markets division, recorded strong inflows into private debt and credit alternatives, as well as continued growth in private equity through its evergreen semi-liquid product range. Real estate saw outflows in the UK and Asia as Schroders continued to streamline the business in line with its strategy. Wealth Management AUM increased to '136.3bn from '128.9bn, supported by '0.5bn of net inflows and '6.6bn of positive market performance. Cazenove Capital achieved 5% net inflows from private clients, while Benchmark recorded outflows after one adviser firm transferred its model portfolio service to another provider....

The collaboration will combine PGIM's capabilities in public and private credit, fixed income, and real estate with Partners Group's expertise in private equity, infrastructure, and bespoke private markets solutions. Stuart Parker, Head of Global Wealth at PGIM, said: 'PGIM has a robust history of investing across market cycles and has built global scale across public and private markets. Our partnership with Partners Group deepens our firm's ability to provide clients with market-leading, innovative, and comprehensive multi-asset investment solutions that meet their evolving needs.' David Layton, CEO of Partners Group, added: 'Partners Group has been delivering bespoke private markets solutions since its inception. Today, we combine our transformational investing approach with the ability to tailor flexible portfolio solutions to meet a broad range of investor requirements. This partnership with PGIM stands testament to that and is another important step in broadening access to private markets for a range of end clients.'...

The private equity portfolio returned 3.4% in H1, beating its 2.0% benchmark, as portfolio companies maintained profitability despite a slower market. Over five years, private equity delivered an annualised return of 16.7% compared with 15.4% for the index, supported by technology, finance, and industrial sector exposure. The period saw $8bn in exits and $4bn in new investments. Equities returned 6.0% in H1, with strong Canadian and emerging market contributions, while fixed income delivered 3.9% on robust yields and credit performance. Infrastructure provided a 4.5% return, driven by transportation assets and $4bn of acquisitions in telecoms, data centres, and power transmission. Real estate was broadly stable, returning 0.1% amid higher-rate pressures. CEO Charles Emond said the results reflected resilience in the face of volatile markets, high interest rates, and sector-specific challenges: 'Our depositors' plans, and therefore Quebecers' pensions, are in excellent financial health.' In Quebec, La Caisse backed high-profile deals including Innergex's C$10bn acquisition, a stake in Norda Stelo, Germain Hotels' C$160m financing, and the Synex Business Performance investment. Major infrastructure commitments included the Quebec-Toronto high-speed train and the TramCite network....