Brookfield raises $2 billion for Middle East investment fund backed by PIF

Brookfield Corp. has secured approximately $2 billion in the first close of its Brookfield Middle East Partners (BMEP) fund, marking a significant step toward attracting more private equity capital to Saudi Arabia and the wider Gulf.

Backed by Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), alongside regional and global institutional investors, the fund will focus on high-growth sectors including financial and business services, consumer industries, industrials, technology, and healthcare.

Brookfield will commit $500 million of its own capital alongside investors, although neither PIF’s contribution nor the fund’s final fundraising target has been disclosed.

Around half of the fund’s investments are expected to be deployed in Saudi Arabia, aligning with PIF’s strategy to increase private-sector participation, deepen domestic capital markets, and attract international investment into the Kingdom.

“Our partnership with Brookfield is designed to help anchor international private equity in Saudi Arabia and the region,” said Yazeed Al-Humied, PIF’s deputy governor and head of Middle East and North Africa investments. He added that the collaboration is expected to accelerate deal flow while bringing global investment expertise to the local market.

The launch comes as PIF continues to expand its investment footprint. The sovereign wealth fund said its assets under management have grown from $150 billion in 2015 to more than $900 billion in 2025, while it invested over $199 billion in new projects across Saudi Arabia between 2021 and 2025.

Toronto-based Brookfield Corporation said the new investment vehicle will pursue buyouts, minority growth equity investments, and other opportunities across the Middle East, with a particular focus on high-growth Gulf Cooperation Council (GCC) markets.

Brookfield has operated in the Middle East for nearly three decades and has managed more than $16 billion in assets across the GCC since 2015, spanning infrastructure, real estate, and private equity.

Alongside the fund, the firm will also introduce the Brookfield Academy to Saudi Arabia, expanding executive education and professional development opportunities for local partners and investment professionals.