The $990 billion Public Investment Fund signed four joint venture deals involving solar, wind and green hydrogen projects.
The capital infusion into the sovereign wealth pool is meant to aid the kingdom’s bid to diversify its economy.
The deal includes French private equity firm Ardian acquiring a 15% stake in FGP TopCo, leaving the Qatar Investment Authority as the largest shareholder.
Despite the loss, the fund’s AUM grew to approximately $595 billion thanks to a 4% share transfer from Saudi Aramco.
Having bought a U.K. football club and lured major players, the kingdom fortifies its homegrown teams financially.
