Saudi Arabia’s liquidity crunch is turning into a goldmine for private credit giants—but not everyone is cheering. As the kingdom pours billions into its Vision 2030 economic transformation, its banking system is feeling the strain. This has created a unique window of opportunity for private credit firms, which are now circling the market with unprecedented interest. Just a year ago, private credit was virtually unheard of in Saudi Arabia, but today, heavyweights like Goldman Sachs and Apollo Global Management are jockeying for position alongside state-backed investors and boutique asset managers. But here’s where it gets controversial: Is this influx of private credit a lifeline for Saudi Arabia’s ambitious projects, or does it signal a risky dependence on external financing? And this is the part most people miss—smaller players are also stepping in, betting big on a market that’s still in its infancy. As these titans of finance dive into uncharted territory, one question looms large: Will this be a win-win for both sides, or could it sow the seeds of future instability? Let us know your thoughts in the comments—do you see this as a strategic move or a potential pitfall?
