Brookfield Asset Management has raised approximately $2 billion for a Middle East-focused private equity vehicle backed by Saudi Arabia’s Public Investment Fund (PIF). The fund, named Brookfield Middle East Partners (BMEP), will allocate half its capital to investment opportunities in Saudi Arabia and the other half to projects across the broader Middle East region, targeting sectors such as industrials, business and consumer services, technology, and healthcare. The partnership was formalized on October 30, 2024, at the Future Investment Initiative conference in Riyadh, where PIF committed to serve as the strategic anchor investor. The fund is targeting total commitments of $2 billion from multiple investors and will deploy strategies including buyouts and structured funding solutions. Brookfield also plans to expand its Riyadh office as part of this initiative, focusing on developing local talent.
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