Saudi Arabia pledges to invest $20B in US infrastructure
- 7 years ago
Saudi Arabia vowed to invest $20 billion in a new U.S.-based infrastructure investment fund that would be managed by The Blackstone Group. The private equity firm is managed by President Trump's economic advisor Steve Schwarzman. The fund was among one of the business deals between the U.S. and Saudi Arabia announced shortly after Trump's arrival in the country. General Electric also announced that the firm sealed a deal for $15 billion worth of projects.