Saudi Arabia’s sovereign wealth fund has disclosed investments in dozens of private equity and venture capital firms via its Sanabil Investments arm, including Blackstone and General Atlantic.
The firms were listed on Sanabil’s website, which said it invests about $2bn in capital a year in “venture, growth capital and small buyouts.”
Others include KKR, Hellman & Friedman, Apollo, Brookfield and CVC.
The $600bn sovereign Public Investment Fund has been steering a plan to make the kingdom’s economy less reliant on oil revenues and attract foreign investment. It has invested in everything from electric vehicles, buying a majority stake in the US-based Lucid, to video gaming and sports.
Saudi Arabia is the world’s largest oil exporter and was one of the fastest growing economies last year.
The kingdom, which led Opec+ in an oil production cut earlier this week to prevent oil prices from falling, has attracted droves of bankers and investors, while much of the world has…