Saudi Arabia has stepped up investments into Oman in the past year or so in a show of support for one of the Gulf's weaker economies as it recovers from the impact of the COVID-19 pandemic. In October PIF established five regional investment companies in Oman, Jordan, Bahrain, Sudan and Iraq, targeting various sectors. Rakiza is co-managed by Oman Infrastructure Investment Management and London-based investment firm Equitix. "Driven by Rakiza’s local investment teams in our Riyadh and Muscat offices, we aim to deliver on the fund’s return objectives by investing in and developing compelling essential infrastructure projects in Oman and Saudi Arabia," Equitix Chief Executive Hugh Crossley said in the statement. (Reporting by Nayera Abdallah and Rachna Uppal Editing by Louise Heavens and David Goodman)
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DUBAI, March 21 (Reuters) - Infrastructure investor
Rakiza, which was set up to invest in Oman and Saudi Arabia, on
Tuesday said it had closed its first fund at more than $1
billion.
The fund has already deployed 25% of its capital across
three projects in Oman and several other investments are close
to financial completion, including its first acquisition in
Saudi Arabia, Rakiza said in a statement.
Saudi Arabia's Public Investment Fund (PIF) put 1.13 billion
riyals ($300.8 million) into Rakiza last year.
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