The Saudi Arabia National Infrastructure Fund (INFRA) has announced a partnership with infrastructure investor heavyweight Macquarie.
Under the memorandum of understanding, Macquarie will help to “increase institutional and foreign investment in the Kingdom's high-growth infrastructure market”, as well as bolster innovative financing offerings.
Last week, the Saudi cabinet approved a law to initiate the fund’s activities. BlackRock is working as the fund's strategic partner.
Chief executive of the INFA, Esmail bin Mohammed Alsallom, said the move was an “exciting step in expanding INFRA’s innovative approach”.