Saudi

Teneo has revised its contract with Saudi Arabia’s Public Investment Fund on Sept. 2 to add an additional $440K in fees covering the last four months of the year.

The firm tacks on “additional work streams for portfolio support and corporate engagement” duties, according to the amended agreement.

Teneo’s original pact called for providing strategic communications services, enhancing PIF’s visibility, doing thought leadership positioning, and serving as global advisor in key markets such as the US and China.

Teneo has 28 executives handling the PIF business from Dubai (10 staffers), New York (seven), London (six), Riyadh (four), and Dublin (one).

PIF’s 2024 fees are now capped at $4,706,666.57.