News & Insights: 22/12/2022

The Crown Estate appoints Cushman & Wakefield as Leisure and Hospitality Advisers across its London portfolio and PIF buys up to 9.5% stake in Skyborn; invests in 30% of Tabreed

In today’s newsletter, according to sources at Bloomberg News, it’s been a busy month for Saudi Arabia's Public Investment Fund (PIF). The sovereign wealth fund valued at $620 billion (£492 billion) is currently looking to buy a stake in cooling system provider Saudi Tabreed for around $250 million. The company is a local division of UAE-listed National Central Cooling.

Earlier in December, Power-Technology also reported that Saudi Arabia's Public Investment Fund has acquired a stake of up to 9.5% in German offshore wind developer Skyborn Renewables alongside Global Infrastructure Partners (GIP), an independent infrastructure investment fund.