Rakiza, an infrastructure fund focused on Oman and Saudi Arabia, has announced its first close and also met its fund-raising target of US$1 billion.
The fund is co-managed by Oman Infrastructure Investment Management (OIM)and UK investment firm Equitix.
The fund has deployed 25% of its capital to date on stakes in three projects all based in Oman.
According to a statement, Rakiza is expecting to make its first acquisition in Saudi Arabia as part of its “pipeline of near-term opportunities”.
Rakiza founder and OIM CEO Muneer Al Muneer said that achieving the $1 billion fund-raising target was “an important milestone on which Rakiza hopes to build with similar initiatives”.
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