BlackRock has opened an office in Saudi Arabia as the world's largest asset manager seeks investment opportunities in the kingdom and wider Middle East.
A company spokesperson told Reuters the Riyadh office had opened recently and is headed by Yazeed Almubarak, who previously worked at Morgan Stanley and Saudi bank Jadwa Investment, according to his LinkedIn page.
The New York-based company was a "substantial investor" in Saudi Aramco's inaugural dollar bond earlier this year, said chief executive officer Larry Fink, where the oil giant raised $12bn in one of the most oversubscribed debt offerings in history.
The region is not perfect. No region in the world is perfect"
"The region is not perfect. No region in the world is perfect," Fink said earlier this year. "The fact that there are issues in the press doesn't tell me I should run from a place, it tells me we should run to a place."
BlackRock is pushing ahead with plans to capitalize on the government's ambitious reform agenda despite global criticism of its human rights record.
Khashoggi, a critic of the kingdom's de facto ruler Crown Prince Mohammed bin Salman, was murdered by Saudi agents inside the Saudi consulate in Istanbul in October 2018.
BlackRock is the world's largest asset manager with $6.84trn in assets under management as of June 2019.