RIYADH: Saudi Arabia’s Public Investment Fund has appointed Bain and Company to firm up its investment plans in India, Mint reported, quoting people familiar with the matter.
The report also added that PIF is aiming to invest in the Indian infrastructure sector.
“PIF is bullish on India, and is looking to invest in sectors such as real estate in the broader physical infrastructure space,” said the source who wished to stay anonymous.
PIF is the Saudi Arabian government’s most prominent investment arm that holds around $620 billion of assets under management, according to SWFI estimates.
The Indian government, in its union budget has extended tax exemptions to sovereign wealth funds, on their earnings from investments in the infrastructure sector for FY24.
PIF did not immediately respond to a request by Arab News for comment.