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Guess Who is Investing $40 Billion Into American Infrastructure

Blackstone Group is a private equity firm that has partnered with Saudi Arabia’s sovereign wealth fund, and has made a huge announcement of $40billion to be invested in a slew of infrastructure projects, with most of them being in the USA.

Blackstone is the product of Stephen Schwarzman, a strong Trump supporter who entered a non-binding agreement with Saudi Arabia’s Public Investment Fund to get things started on the project funding.

Saudi Arabia’s PIF will be spending $20 billion on the project, while the rest of the money needed will be drawn in from outside investors.

Although Blackstone says the fund has been in the ‘talk-terms’ stage with the other firms involved during the past year, the partnership is non-binding, which means that there is not a structure for the fund as of now and the firms are still hashing things out on the agreement.

Blackstone and PIF both showed their confidence in the deal, believing that both side would hold up their ends of the bargain.

PIF managing director Yasir al-Rumayyan shared a statement concerning the deal:

“This potential investment reflects our positive views around the ambitious infrastructure initiatives being undertaken in the United States as announced by President Trump”

Following that, Blackstone president Hamilton James also gave his vote of confidence:

“This will create well-paying American jobs and will lay the foundation for stronger long-term economic growth.”