Saudis’ $20 Billion Wager With Blackstone Marks Record Bet on U.S. Public Works

Ryan Dezember, The Wall Street Journal on May 20, 2017

Saudi Arabia joined the parade of investors into U.S. public works by pledging a record investment with Blackstone BX 2.02% Group LP.

The country's Public Investment Fund agreed to commit $20 billion to Blackstone’s new infrastructure fund in the latest push around the world by large investors to buy up airports, pipelines and other public projects, particularly in the U.S.

Blackstone said Saturday the kingdom’s money would seed an investment fund that the New York private-equity giant hopes will reach $40 billion and have spending power of up to $100 billion once debt is added to the mix.

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