10:18 AM EST, 11/25/2025 (MT Newswires) -- (Updates with company comment in fourth paragraph.)

BlackRock ( BLK ) is looking to boost its investments in the Middle East over the next few years, particularly in Saudi Arabia, Bloomberg reported Tuesday.

The asset management giant has already invested more than $35 billion in Saudi equities, fixed income and infrastructure, and now has four investment teams in the Saudi capital Riyadh, Bloomberg reported, citing Kashif Riaz, the head of BlackRock's ( BLK ) Financial Markets Advisory business in the Middle East, and its Riyadh-based investment management platform.

Riaz said the firm is eyeing infrastructure investments in Saudi Arabia, which is spending hundreds of billions of dollars on project to develop a non-oil economy, including transportation infrastructure and AI data centers, Bloomberg reported.

"The piece in question was not new news or an announcement," a BlackRock ( BLK ) spokesperson told MT Newswires, adding that "we met with the new Bloomberg Saudi correspondent to speak about our business and where we saw growth opportunities."

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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