What are the long-term goals of BlackRock's investment platform in Riyadh

BlackRock’s investment platform in Riyadh, known as BlackRock Riyadh Investment Management (BRIM), has several long-term goals aligned with Saudi Arabia’s Vision 2030:

Developing Saudi Arabia’s Asset Management Sector

• BRIM aims to further develop Saudi Arabia’s asset management sector, including the housing capital markets.

• The platform will encompass investment strategies across a range of asset classes for the Saudi market, including both public and private markets.

Supporting Economic Diversification

• BRIM will focus on sectors aligned with Vision 2030, such as technology, tourism, manufacturing, and renewable energy.

• The platform seeks to support Saudi Arabia’s efforts to move beyond its long-time focus on fossil fuels.

Enhancing Local Capital Markets

• BlackRock’s investments are expected to broaden local capital markets while driving investor diversification across asset classes.

• The partnership aims to develop the Kingdom’s mortgage securitization framework and related investment strategies.

Attracting Foreign Investment

• BRIM will seek to support foreign institutional investment into the Kingdom.

• The platform aims to offer investors from around the world the opportunity to participate in Saudi Arabia’s long-term economic transformation.

Knowledge Transfer and Talent Development

• The initiative will facilitate knowledge sharing and the development of Saudi-based asset management talent.

• BlackRock plans to establish the BRIM Graduate Development Program to enhance local investment capabilities.

These long-term goals demonstrate BlackRock’s commitment to contributing to Saudi Arabia’s economic transformation while capitalizing on the growing investment opportunities in the Kingdom.