- Rakiza, an infrastructure fund investing in Oman and Saudi Arabia, announced that they successfully raised a cool $1 billion for their inaugural vehicle, and are just about ready to close their first deal in the Kingdom.
- The fund, which is a joint venture between Oman Infrastructure Investment Management and Equitix, has already put a quarter of its capital to work in three projects in Oman, such as telecom towers and a container terminal.
Why it matters
In 2020, the Public Investment Fund of Saudi Arabia allocated 1.13 billion riyals ($300 million) towards Rakiza, as reported by the state news agency of Oman. Additionally, the Asia Infrastructure Investment Bank contributed $50 million in the same infrastructure fund.