LONDON/RIYADH Oct 29 (Reuters) - BlackRock ( BLK ) and Saudi

Arabia's sovereign wealth fund, the Public Investment Fund, have

launched new mutual funds across various asset classes managed

by the U.S. asset manager and focused on Saudi equities and

Middle East and North Africa fixed income.

Both global and local investors can invest in the products

through BlackRock Riyadh Investment Management (BRIM), an

investment platform launched in 2024.

"BlackRock's ( BLK ) Middle East investment offerings now span

multiple public and private market asset classes, including

infrastructure, helping to deepen Saudi Arabia's capital markets

and support the Saudi Vision 2030 objectives," the companies

said in a joint statement Wednesday.

Riyadh-based portfolio managers oversee these strategies,

highlighting a push to develop local financial sector expertise.

BlackRock ( BLK ) has nearly tripled its Riyadh-based workforce

since April 2024 and expanded its global graduate analyst

program to the city, with a third cohort expected in 2026, the

companies said.

(Reporting by Federico Mancioni in Riyadh and Anousha Sakoui in

London; Editing by Ros Russell)