The international arm of Caisse des Depots, a French public financial institution that controls €400 billion, aims to create an investment vehicle in Saudi Arabia with a tie-up with Kingdom Holdings.
The jointly managed investment vehicle will aim to develop projects in Saudi Arabia that would benefit from French technology.
Kingdom Holding was founded in 1980 by prince Al-Waleed bin Talal, a business magnate and member of the ruling Al Saud family who has been compared to Warren Buffett.
Founded in 1816, Caisse des Depots has joint investment vehicles in Qatar, Russia and elsewhere via Caisse des Depots International Capital, an investment corporation dedicated to partnerships with sovereign wealth funds and other institutional investors.
Al-Waleed bin Talal, chairman of Kingdom Holding, and Laurent Vigier, chief executive of Caisse des Depots International Capital, are co-chairs of a working group to advance the aims of the project.
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