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...
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