PIF backs King Street’s fund to expand private credit investment in MENA

Riyadh - Mubasher: The Public Investment Fund (PIF) signed a non-binding memorandum of understanding (MoU) with leading global investment management firm King Street Capital Management to expand private credit investment opportunities in Saudi Arabia and the MENA region.

The Saudi PIF will be a main investor in a new private credit fund that provides private capital solutions for companies and does asset-based lending, with the ability to take advantage of credit opportunities in public markets and certain special situations.

The multi-strategy fund, announced on the sidelines of the 4th edition of the FII PRIORITY Miami Summit, will leverage King Street’s 30-year history of investing in global credit markets, including emerging markets.

Brian Higgins, Founder and Managing Partner of King Street, said: “We believe the regional private credit market will need to grow by at least 15-30% annually over the next five years to finance economic development in Saudi Arabia and the MENA region.”

He added: “This will complement the GCC’s robust banking sector and expanding capital markets. Leveraging our deep experience in global credit markets and partnering with PIF, we will seek to drive foreign and domestic investment into the region.”

The partnership aims to secure a dedicated credit fund and respond to a rising demand from local and regional businesses for capital.

Therefore, PIF’s anchor capital is expected to help bring in more long-term foreign capital, which will unlock financing for high-impact industries.

At the end of the fourth quarter (Q4) of 2025, PIF lowered the value of its US-listed equity holdings to $12.95 billion, compared to $19.37 billion in Q3-25.

Source: Mubasher Source: {{details.article.source}}