Brookfield Secures $2 Billion First Close for Middle East Fund

Brookfield Middle East Partners has reached a $2 billion first close for its Middle East-focused private equity fund, backed by Saudi Arabia's Public Investment Fund (PIF) and a group of regional and international institutional investors.

The fund will invest across the Gulf Cooperation Council (GCC), with around half of its capital expected to be deployed in Saudi Arabia. Brookfield will also commit $500 million to the vehicle.

Brookfield Middle East Partners will pursue buyouts, minority growth investments and other private equity transactions across sectors including financial services, business services, consumer industries, industrials, technology and healthcare. The firm said it will leverage its investment team in Riyadh alongside its global network to identify opportunities across the region.

According to Yazeed A. Al-Humied, Deputy Governor and Head of MENA Investments at PIF, the partnership is intended to attract more international private equity investment into Saudi Arabia and the wider region while strengthening the local capital markets ecosystem and increasing deal flow.

As part of the initiative, Brookfield will also introduce the Brookfield Academy in Saudi Arabia, a professional development programme for investment professionals. The fund reflects growing international interest in private equity opportunities across the Gulf as Saudi Arabia continues to expand its private capital ecosystem.