BlackRock and PIF strengthen Riyadh investment platform with new Saudi and MENA mutual funds

Dubai: BlackRock Saudi Arabia and the Public Investment Fund (PIF) have announced the launch of new mutual funds under the BlackRock Riyadh Investment Management (BRIM) platform, deepening their partnership to develop Saudi Arabia’s capital markets and broaden investment access for local and global investors.

The new products, unveiled during the PIF Asset Management Forum held on the sidelines of the Future Investment Initiative (FII9) in Riyadh, will focus on Saudi Systematic Active Equities and MENA Fixed Income. The strategies build on the success of a Saudi systematic equity strategy launched in January 2025 and a Saudi index equity strategy announced in May 2025.

BRIM was established in April 2024 with an anchor investment mandate from PIF, forming part of BlackRock’s plan to expand its presence and capabilities in Saudi Arabia. The mutual funds are expected to deploy investment capital following completion of regulatory and internal approvals.

BlackRock said the launch reinforces both institutions’ shared goal of enhancing liquidity and product diversity in Saudi capital markets. The new offerings are designed to provide investors with exposure to the Kingdom’s evolving equity market and broader regional debt instruments, supporting the objectives of Saudi Vision 2030.

The announcement comes as BlackRock continues to expand its local operations. Since the launch of BRIM, the firm’s Riyadh headcount has nearly tripled, with new investment professionals and corporate functions added across portfolio management, research and operations.

BlackRock has also extended its global graduate analyst program to Saudi Arabia, with the third cohort scheduled to join in 2026. The company said these steps underscore its commitment to building local talent and capabilities within the Kingdom’s financial ecosystem.

BlackRock’s Middle East offerings now span multiple public and private market asset classes, including infrastructure. The firm said its growing Riyadh platform aims to create opportunities for international investors while helping strengthen Saudi Arabia’s position as a global financial hub.

PIF continues to play a central role in accelerating the development of the Kingdom’s asset management industry, enabling the creation of new investment products and expanding institutional participation in Saudi capital markets.

Today’s announcement remains non-binding and subject to regulatory and internal approvals, in line with the memorandum of understanding signed between BlackRock and PIF in April 2024.