 "Saudi Arabia")
BlackRock Inc. has been hired by Saudi Arabia to manage a new investment fund established to help finance a drive to upgrade infrastructure across the world’s biggest oil exporter.
The U.S. asset manager will help Saudi Arabia create and oversee the National Infrastructure Fund, which expects to be involved in financing around $53 billion worth on projects over the next decade in industries from power and water to health care, according to a statement on Monday.
The size of the fund hasn’t been determined yet, but it will be backed entirely by the National Development Fund, a Saudi government entity chaired by
