Neuberger Berman has signed a memorandum of understanding with Saudi Arabia’s Public Investment Fund (PIF) to launch a multi-asset investment platform in Riyadh and mobilise up to $6bn in capital to support the development of regional capital markets.

The strategic partnership, announced on 15 May 2025, aims to accelerate financial sector growth in Saudi Arabia and the Middle East while deepening access to global capital. The collaboration will focus on equities, fixed income, and private markets, with Neuberger Berman leveraging its international network to drive institutional investment flows into the region.

“We are honoured to partner with PIF, one of the world’s largest and most sophisticated institutional investors,” said George Walker, CEO of Neuberger Berman. “This collaboration enables us to align global investment expertise with regional ambitions, and contribute to talent development and economic transformation as outlined in Vision 2030.”

The Riyadh-based platform is currently awaiting regulatory and internal approvals, and Neuberger Berman is actively pursuing local licensing to support its operational expansion. The firm also recently appointed Khalid Albdah as Head of Middle East and New Markets to lead client coverage and investment strategy across the region.

For PIF, the agreement aligns with its broader mandate to diversify the Saudi economy, foster domestic asset management capabilities, and attract global investors. Since 2017, PIF has launched 103 companies and continues to support large-scale initiatives across sectors including infrastructure, technology, and sustainability.

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