PIF, Franklin Templeton sign MoU to invest $5B in Saudi financial markets

The signing of the agreement

The Public Investment Fund (PIF) signed today, May 14, a non-binding memorandum of understanding (MoU) with Franklin Templeton Financial Co. (FTFC) to jointly invest up to $5 billion (SAR 18.8 billion) to further develop Saudi financial markets.

These investments could cover Saudi equity and fixed income strategies in the public and private sectors, in a bid to broaden investment offerings for both Saudi and international investors, according to an official statement.

Under the MoU, both entities will collaborate on a range of investment strategies and products in Saudi Arabia, stimulating opportunities that align with their shared objectives. Additionally, Franklin Templeton will deploy programs and initiatives to transfer knowledge, foster talent and promote innovation in the local asset management sector.

The non-binding MoU is still subject to satisfying several terms and conditions, including obtaining all the necessary regulatory and internal approvals, while fulfilling some predetermined milestones.

Headquartered in California with over 75 years of experience, Franklin Templeton is a leading global investment manager. With a 25-year presence in the Middle East, the firm further solidified its commitment to Saudi Arabia with the opening of its Riyadh-based headquarters in March 2024.

As of April 2025-end, Franklin Templeton’s total assets under management stood at nearly $1.53 trillion.