Goldman, HSBC, Fortress Back $150M Saudi Credit

Goldman Sachs is investing $500 million to launch the Small Business AI Institute, partnering with Anthropic, Google, Meta, and OpenAI. The initiative aims to support 10,000 small businesses in adopting AI, providing training and capital. Since 2010, the 10,000 Small Businesses program has helped 20,000 entrepreneurs, generating $32 billion in annual revenue and 350,000 jobs.

HSBC Plans SRTs Tied to $7 Billion of US, Asian Corporate Loans, Bloomberg reports.

HSBC (HSBA) announced a $1B share buyback, expected to finish by 2026. The bank also appointed Neha Ghai as director of its Global Private Bank in Dubai, effective November 2026.

Fortress Investment Group, Goldman Sachs, and HSBC are providing $150 million in private credit financing to United Saudi Company, marking a rare cross-border deal since the U.S.-Iran war. This is one of the largest such deals since mid-2025, as international lenders become more active in Saudi Arabia's financing market. The transaction is notable for Fortress's first entry into Saudi private credit and reflects the kingdom's efforts to diversify financing sources.

Goldman Sachs, Citigroup, Banco Santander, and 18 other financial firms are investing $270 million in a joint stablecoin venture called Project Faro, targeting a 2027 launch. The consortium plans to incorporate in the U.S. and issue a stablecoin compliant with the GENIUS Act, which prohibits yield payments but allows interest on deposits.

Goldman Sachs (GS) and HSBC (HSBC) are collaborating on a $150M private credit deal in Saudi Arabia with Fortress Investment Group, Ruya Partners, and Amwal Capital Partners. The financing supports United Saudi Company, a manufacturer of nonwoven fabrics. This deal marks Fortress's first entry into Saudi Arabia's private credit market and highlights growing international interest in the region's economic transformation.