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PIF hires top US law firm

Saudi Arabia’s PIF has hired Akin Gump Strauss Hauer & Feld LLP, blue-chip lobbyists in Washington, to lobby for approval of US future acquisitions. The PIF will pay the firm up to USD535,000 through 1 May for legal advice on current and anticipated US investments. Geoffrey Verhoff will be representing the fund, a top fundraiser for the Republican National Committee and a regional Vice Chairman of the party’s finance team. Additionally, Akin Gump will focus on the Committee on Foreign Investment in the US, which reviews foreign acquisitions of US businesses, according to Bloomberg. The panel can approve deals, impose changes to transactions to protect American security and/or recommend that the president block a takeover. 

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