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Reuters

BlackRock on hunt for Gulf infrastructure deals

BlackRock Inc, the world’s biggest money manager, is seeking more infrastructure deals in Saudi Arabia and the Gulf region and is also looking to invest in private companies in the region, an executive said. The U.S. group, which manages more than $10 trillion in assets, recently led a consortium purchase of a $15.5 billion stake in Saudi Aramco’s gas pipelines company, having taken a stake in Abu Dhabi energy company ADNOC’s pipeline assets a couple of years earlier. “We’re looking at many of those types of opportunities,” Stephen Cohen, head of BlackRock’s Europe, Middle East and Africa division, told Reuters.