Brookfield Corporation has announced an initial close of roughly $2 billion for its new regional private equity vehicle, Brookfield Middle East Partners. Anchored by Saudi Arabia’s Public Investment Fund alongside a cohort of regional and global institutional partners, the fund will focus on buyouts, minority growth equity and other investment deals across the Gulf Cooperation Council.

The fund intends to allocate 50% of its total investments to opportunities within Saudi Arabia. It will target businesses across financial, consumer and business services, alongside technology, healthcare and industrials. Brookfield is committing $500 million of its own capital to align interests with its investor base.

To support local talent development, Brookfield plans to introduce the Brookfield Academy to Saudi Arabia. Established in 2019, the program offers interactive learning opportunities to professionals working with Brookfield’s partner organisations.

The partnership forms part of PIF’s strategy to attract international capital inflows and generate long-term value through global investment relationships. The fund aims to broaden financing choices for domestic companies, enhance the Saudi capital market ecosystem and accelerate local deal flow.

Brookfield has operated in the Middle East for nearly three decades and has made direct investments in the region since 2015. It currently manages more than $16 billion in regional assets across infrastructure, real estate and private equity.

Yazeed A. Al-Humied, Deputy Governor and Head of MENA Investments at PIF, said: “PIF continues to build upon Saudi Arabia’s position as a global hub for investments, through partnering with international industry leaders to drive product innovation and ensure further access to local opportunities. Our partnership with Brookfield is designed to help anchor international private equity into Saudi Arabia and the region. It will also accelerate deal flow while continuing to bring world-class expertise to the local capital market ecosystem.”

Bruce Flatt, CEO of Brookfield Corporation, said: “We are grateful for the collaboration with PIF and our other strategic anchor partners, reflecting the global confidence and strong demand for private equity opportunities in Saudi Arabia and the region. Brookfield has been active in the Middle East for nearly three decades, and we bring deep local investment expertise, local networks and an owner-operator approach to transforming high-quality businesses. We see a compelling opportunity to partner with businesses across the region and position them for long-term growth.”