Saudi Arabia’s sovereign wealth fund is set to meet some of Wall Street’s biggest firms in New York this week as it seeks foreign backing for its spending plans amid cash constraints at home, reports Semafor

"Public Investment Fund’s senior management — along with representatives of some of its biggest companies including AI firm HUMAIN, Riyadh’s King Abdullah Financial District, and luxury hotel developer Red Sea Global — will be in New York later this week, according to people familiar with the matter. They are expected to meet with investors including Apollo, Blackstone, Brookfield, Carlyle, KKR, and Stonepeak, as well as the US Export-Import Bank." "The Saudi delegation is not fundraising for a specific project from the event, which is being arranged by US investment bank Lazard. The meetings are intended to familiarize investors with PIF and its portfolio, laying the groundwork for future debt or equity fundraising from global investors, the people said."