PIF's Big Week for PEUs

Semafor reported:

Public Investment Fund’s senior management, along with representatives of some of its biggest portfolio companies, will meet with Apollo, Blackstone, Brookfield, Carlyle, KKR, and Stonepeak, as well as the US Export-Import Bank, in a swing through New York this week. 

Investment bankers from Lazard are brokering the meetings, which aren’t fundraising for a specific project but rather laying the groundwork for future cash raises, people familiar with the matter said. Saudi Arabia needs billions of dollars to remake its oil-centric economy, and heavy spending by PIF and other entities hasn’t catalyzed the $100 billion in annual foreign investment the kingdom is targeting.

The Saudis will meet with storied private equity underwriters (PEU) like Carlyle, Blackstone, KKR & Apollo.  The U.S. Export-Import Bank is headed by a former PEU who happens to be married to Dr. Oz's daughter.  Oz is Trump II's head of Medicare/Medicaid.

Lazard is headed by Peter Orszag, former OMB Chief under Obama.  Lazard helped the Saudis with Masar, a massive development project in Mecca.

PIF will undertake more PEU strategies in the near future:

PIF is preparing to make a more aggressive push to sell mature assets, pursue listings and divestments, and finance more of its operations and investments with external capital

As most PEU affiliates are sold to other PEUs, these upcoming meetings could be a shuffling of sponsor cards.  I'll trade you for this, loan you "x amount" for that.  Deal or No Deal?

And where will Jared Kushner be when these PIF-PEU meetings occur?  His Affinity Partners has billions of PIF money.  Let's hope Affinity's holdings do better than LIV Golf.  

The Saudi government has no obligation to share information with citizens or the media.  The U.S. has legal requirements that increasingly are optional or ignored under Trump II's Department of "Just Us."

The public is waiting to see Jared's financial disclosure, which is months overdue.  I'll be shocked if they ever show up.

Politicians Red & Blue love PEU and their new TechGod brethren.  Increasingly, more are one and they look out after their own.

John Hussman wrote on Seeking Alpha:

An economy that prospers at the top, struggles at the bottom, and runs massive government deficits to bridge the gap is the predicable outcome of deliberate policy choices.

Thus endeth the PEU lesson.