Oman infrastructure fund Rakiza acquires 31% of Sohar port terminal

PIF-backed Rakiza raises USD 1 bn + acquires stake in Omani terminal:Muscat-based investment company Rakiza has acquired an estimated 31% stake in Oman’s Oman International Container Terminal in the Port of Sohar after raising USD 1 bn for its first fund, Zawyareports.

The details: The fund had earmarked USD 400 mn into the acquisition, which it says will see Rakiza support the port operator in its “capacity expansion plans,” the fund says on its website.

Background: The fund — co-managed by Oman Infrastructure Investment Management (OIM) and UK-based infrastructure developer Equitix — is targeting stakes in the transport and logistics sectors of both Oman and Saudi Arabia, according to a statement. It received a USD 300 mn capital injection from Saudi Arabia’s Public Investment Fund (PIF) to expand its portfolio.