Saudi Arabia's Public Investment Fund created an investments division focused on the Middle East and North Africa by expanding its local investments unit. The Riyadh-based sovereign wealth fund appointed Yazeed Alhumied to the newly created role of head of MENA investments. He had been head of the local holdings investment division since December, responsible for two investment pools and driving international investment in Saudi Arabia. Further details on the new MENA investments division and the fund's allocation to the region were not available. Turqi Alnowaiser, head of PIF's international investments division — investing outside the kingdom and MENA region — was also named deputy governor.

Source: The North Africa Journal June 08, 2021 13:18 UTC