Investcorp says PIF key investor in new GCC infrastructure fund

Logo of PIF

Bahrain-based Investcorp announced today, June 10, 2021, that its joint infrastructure fund, ASIIP, with Aberdeen Standard Investments, received a capital commitment from the Public Investment Fund (PIF) of up to 20% of the total fund size in advance of its anticipated first closing

ASIIP also received board approval from the Asian Infrastructure Investment Bank (AIIB) to commit $90 million, according to a company statement.

It is expected that the fund will be joined by other global institutional investors, including pension funds, insurance companies, endowments, family offices and private clients.

ASIIP aims to participate in the economic transformation in GCC and the wider Middle East and North Africa (MENA) region by investing in sustainable core infrastructure projects.

With Environmental and Social Governance (ESG) and United Nations Sustainable Developments Goals (UNSDG) at the heart of its philosophy, ASIIP’s mission is to deliver solutions in healthcare, education, water, mobility and digital infrastructure that will have a positive impact on communities and future generations.

According to data compiled by Argaam, Financial Times earlier reported that PIF will become a major investor in a new $800 million infrastructure fund in the GCC. Investcorp is putting the final touches on the first closing of the infrastructure fund at $250 million.