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 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.

BlackRock did not immediately respond to a request for comment from MT Newswires.

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