Blackstone, Saudi
Arabia Announce $40 Billion Investment in U.S. Infrastructure
by Katherine Rodriguez 20 May 2017
Private equity
firm Blackstone Group, in partnership
with Saudi Arabia’s sovereign wealth fund, announced that they would commit $40
billion to invest in infrastructure projects, mainly in the U.S.
Blackstone, co-founded by Trump supporter Stephen
Schwarzman, entered a non-binding agreement with Saudi Arabia’s Public Investment Fund (PIF) to move forward with
this initiative, the Hill
reported.
Saudi Arabia’s PIF had agreed to put down $20 billion for
the project, while the rest of the money would come from outside investors.
Although Blackstone says the fund has been negotiated
between the firms for the past year, the partnership is non-binding, which
means that there is not a formal structure for the fund yet and the firms are
still discussing certain aspects of the agreement, Forbes
reported.
Blackstone and PIF each gave a vote of confidence to the
new partnership.
“This potential investment reflects our positive views
around the ambitious infrastructure initiatives being undertaken in the United
States as announced by President Trump,” PIF managing director Yasir
al-Rumayyan said in a statement.
“This will create well-paying American jobs and will lay the
foundation for stronger long-term economic growth,” Blackstone president
Hamilton James said.
The partnership between the U.S. and Saudi Arabian
companies comes as President Trump is visiting Saudi Arabia as the initial stop
of his first trip abroad as president.
Trump has already signed a series of
agreements with Saudi King Salman solidifying their military and economic
partnerships on his first full day in the country.
Blackstone Group
Blackstone Group
was a funder for the Bill, Hillary &
Chelsea Clinton Foundation.
Note: Jonathan D. Gray
is a director & global head of real estate for the Blackstone Group, and was a funder for the Bill, Hillary & Chelsea Clinton Foundation.
Mark T. Gallogly
was a senior managing director for the Blackstone
Group, and a funder for the Bill,
Hillary & Chelsea Clinton Foundation.
Glenn H. Hutchins
was a general partner at the Blackstone
Group, and a funder for the Bill,
Hillary & Chelsea Clinton Foundation.
Friends
of Saudi Arabia was a funder for the Bill,
Hillary & Chelsea Clinton Foundation.
Abdulaziz
bin Abdullah is a co-founder for the Friends
of Saudi Arabia, and the deputy minister of foreign affairs for Saudi Arabia.
Saudi Arabia was
a funder for the Bill, Hillary &
Chelsea Clinton Foundation.
Turki bin
Faisal Al Saud is a prince of Saudi
Arabia, was William J. Clinton’s
classmate at Georgetown, and a funder for the Bill, Hillary & Chelsea Clinton Foundation.
Turki bin
Faisal Al Saud is a prince of Saudi
Arabia, was an intelligence chief for Saudi
Arabia, and a funder for the Bill,
Hillary & Chelsea Clinton Foundation.
Open
Society Foundations was a funder for the Bill, Hillary & Chelsea Clinton Foundation, the Human Rights Watch (think tank), the Atlantic Council of the United States
(think tank), and the Carnegie
Endowment for International Peace (think tank).
George
Soros is the founder & chairman for the Open Society Foundations, a member of the Breakthrough Energy Coalition, a friend of Michael Douglas, and was the chairman for the Foundation to
Promote Open Society.
Foundation
to Promote Open Society was a funder for the Human Rights Watch
(think tank), and the Carnegie
Endowment for International Peace (think tank).
Alwaleed bin
Talal is a member of the Breakthrough
Energy Coalition, and a prince of Saudi
Arabia.
John J. Studzinski
is a director at the Human Rights Watch
(think tank), a director at the Atlantic
Council of the United States (think tank), the vice chairman for the Blackstone Group, and was a co-head of
investment banking for the HSBC Holdings
plc.
Blackstone Group
was a funder for the Bill, Hillary &
Chelsea Clinton Foundation.
HSBC Holdings
plc was a funder for the Bill,
Hillary & Chelsea Clinton Foundation.
James B. Comey
was a director at HSBC Holdings plc,
and a director at the Federal Bureau of
Investigation (FBI).
Chas. W. Freeman
Jr. was a director at the Atlantic
Council of the United States (think tank), a U.S. ambassador for Saudi Arabia, and is a trustee at the Carnegie Endowment for International Peace
(think tank).
Jessica Tuchman Mathews was the president of
the Carnegie Endowment for International Peace (think tank), is a
director at the Nuclear Threat
Initiative (think tank), a director at the American Friends of Bilderberg
(think tank), and a 2008 Bilderberg conference participant (think tank).
Ed Griffin’s interview with
Norman Dodd in 1982
(The investigation into the
Carnegie Endowment for International Peace uncovered the plans for population
control by involving the United States in war)
Carnegie
Endowment for International Peace (think
tank) was a funder for the Nuclear
Threat Initiative (think tank).
Michael Douglas
is a director at the Nuclear Threat
Initiative (think tank), and a friend of George Soros.
Margaret A.
Hamburg was a VP for the Nuclear
Threat Initiative (think tank), and is a member of the Markle Task Force on National Security in the Information Age.
Wesley K. Clark
is a member of the Markle Task Force on National Security in
the Information Age, a director at the Atlantic
Council of the United States (think tank), and a senior adviser for the Blackstone Group.
Blackstone Group
was a funder for the Bill, Hillary &
Chelsea Clinton Foundation.
Jonathan D. Gray
is a director & global head of real estate for the Blackstone Group, and was a funder for the Bill, Hillary & Chelsea Clinton Foundation.
Mark T. Gallogly
was a senior managing director for the Blackstone
Group, and a funder for the Bill,
Hillary & Chelsea Clinton Foundation.
Glenn H. Hutchins
was a general partner at the Blackstone
Group, and a funder for the Bill,
Hillary & Chelsea Clinton Foundation.
Friends
of Saudi Arabia was a funder for the Bill,
Hillary & Chelsea Clinton Foundation.
Ronald O. Perelman
was a funder, 2013 fundraiser chair for the Bill, Hillary & Chelsea Clinton Foundation, and a 740 Park Avenue, New York resident.
Edgar M. Bronfman
was a funder for the Bill, Hillary &
Chelsea Clinton Foundation, and a 740
Park Avenue, New York resident.
Stephen A.
Schwarzman is a 740 Park Avenue, New
York resident, and the chairman & CEO & co-founder for the Blackstone Group.
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