Brookfield Asset Management (BAM) has secured an approximately US$2 billion first close for Brookfield Middle East Partners (BMEP), a Middle East-focused private equity fund anchored by Saudi Arabia's Public Investment Fund (PIF), to invest across high-growth markets in the Gulf Cooperation Council (GCC).

The first close includes commitments from PIF, other anchor investors and institutional partners, with Brookfield also committing US$500 million alongside its partners. The fund is designed to channel long-term institutional capital into high-growth businesses across the Middle East, reinforcing Brookfield's strategic expansion in the region. BMEP will invest across the Middle East, with a primary focus on the Gulf Cooperation Council (GCC), targeting buyouts, minority growth equity investments and other private equity opportunities. Approximately 50% of the fund's capital is expected to be deployed in Saudi Arabia, supporting the Kingdom's Vision 2030 economic diversification programme while also backing companies across the wider region. Investment opportunities will span sectors including financial services, business and consumer services, industrials, technology and healthcare. 

The fund will leverage Brookfield's established presence in Riyadh, together with its global investment platform, to source, execute, and manage investments. Brookfield believes the Middle East offers significant opportunities driven by favourable demographics, economic reforms, increasing private-sector participation and strong demand for growth capital. By combining local expertise with global operational capabilities, the firm aims to help regional businesses scale and create long-term value.

For PIF, the partnership aligns with its strategy of attracting leading global asset managers to Saudi Arabia and mobilising international capital into the Kingdom and the wider Middle East. The first close builds on the memorandum of understanding signed by Brookfield and PIF in 2024 to establish the fund, highlighting continued collaboration to expand private equity investment opportunities, strengthen regional capital markets and accelerate economic diversification across the GCC.