Saudi Wealth Fund Unit to Plow More Cash Into Private Credit

A unit of Saudi Arabia’s Public Investment Fund plans to start funneling more money into private credit, joining other Gulf entities in looking beyond the upheaval roiling parts of the industry overseas.

Jada Fund of Funds — a PIF subsidiary — recently struck a deal to invest with India-based venture debt firm Stride Ventures to help drive capital into the economy, according to Jada Chief Executive Bandr Alhomaly. Stride aims to deploy $200 million into the kingdom in the next two years.