Saudi Royal Runs $250 Billion Firm Shaping Access to Mega Deals

As Saudi Arabia spends trillions of dollars to reshape its economy, a little-known investment group overseen by the crown prince’s brother is emerging as a key power broker.

Tharawat Holding Co., run by Prince Turki bin Salman, has taken on a role as a gatekeeper for foreign companies seeking to do business in Saudi Arabia. It complements the kingdom’s powerful wealth fund, which remains the main entity driving de facto ruler Mohammed bin Salman’s Vision 2030 program.

The firm derives its name from the Arabic word for treasure or wealth, and insiders say it oversees a web ...