Scotland-based Standard Life Aberdeen Plc is negotiating with Saudi Arabian authorities to launch one or more investment products that could be initially funded by the Kingdom’s Public Investment Fund (PIF), Bloomberg reported on Sunday.

 

The initial funding or seeding could be in “billions of dollars,” the report said citing unnamed sources.

 

“While the talks are at early stage and no agreement has been reached, Standard Life Aberdeen is studying opening an office in Riyadh to manage the new funds from there,” sources said.

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