PIF (Public Investment Fund of Saudi Arabia)

Extracted Attributes

• Type

  Sovereign wealth fund

• Founded

  1971

• Purpose

  Manage government investments, provide financing support for projects of strategic significance to the national economy, diversify the economy (aligned with Saudi Arabia's Vision 2030).

• Chairman

  Crown Prince Mohammed bin Salman

• Criticism

  Lack of transparency, close government control, Saudi Arabia's human rights record.

• Headquarters

  Riyadh, Saudi Arabia

• Investment Sectors

  Telecoms, aerospace, energy, green technologies, security, housing finance, renewable energy, information technology, sports (football, golf, snooker, Formula 1, boxing, mixed martial arts, tennis, baseball, darts).

• Number of Employees

  1,001-5,000

• International Offices

  London, Hong Kong, New York

• Total Estimated Assets

  US$941 billion

• Investment Focus (Domestic)

  Over 60% of activities within Saudi Arabia, primarily into private conglomerates linked to prominent Saudi business families and the ruling family. Includes giga-projects like Neom, Rua al Madinah, Amaala, Qiddiya, and companies like Acwa Power, Maaden, Riyadh Air, Saudi National Bank, Saudi Tadawul.

• Investment Focus (International)

  Prominent foreign assets including Premier League football club Newcastle United, Accor, Americana group, Blackstone, Jio Platforms, Lucid Motors, Selfridges Group, Uber, Electronic Arts (EA).

Timeline

• The Public Investment Fund (PIF) was established by King Faisal bin Abdulaziz Al Saud by Royal Decree M/24 with the stated intent to provide financing support for projects of strategic significance to the national economy. (Source: Summary, Wikipedia, Web Search)

  1971-XX-XX

• The Council of Ministers granted PIF authority to fund new companies inside and outside the Kingdom, either independently or in cooperation with the public and private sectors, without prior council approval. (Source: Web Search)

  2014-07-XX

• Oversight of PIF was moved from the Ministry of Finance to the Council of Economic and Development Affairs (CEDA). (Source: Web Search)

  2015-03-XX

• PIF participated in a consortium, alongside Silverlake and Affinity Partners, to take Electronic Arts (EA) private in a record-breaking $55 billion leveraged buyout, supported by financing from Jamie Diamond. (Source: Summary, Related Documents)

  XXXX-XX-XX

• PIF invested in the Premier League football club Newcastle United, an investment that generated controversy due to the fund's lack of transparency and close control by the Saudi government. (Source: Summary, Wikipedia, Web Search)

  XXXX-XX-XX

Public Investment Fund

The Public Investment Fund (PIF; Arabic: صندوق الاستثمارات العامة) is the sovereign wealth fund of Saudi Arabia. It is among the largest sovereign wealth funds in the world with total estimated assets of US$941 billion. It was created in 1971 for the purpose of investing funds on behalf of the government of Saudi Arabia. The wealth fund has Crown Prince Mohammed bin Salman, Saudi Arabia's de facto ruler since 2015, as its chairman. More than 60% of the fund's activities are within Saudi Arabia. Within Saudi Arabia, the fund's investments primarily go to private conglomerates owned by prominent Saudi business families who have close ties to the Saudi ruling family. Outside Saudi Arabia the fund's investments into prominent foreign assets such as Premier League football club Newcastle United have generated controversy due to the fund's lack of transparency and close control by the Saudi government, which has itself faced significant criticism around the lack of human rights in the country.

Web Search Results

• Public Investment Fund - Wikipedia

  The Saudi Arabian Public Investment Fund (PIF) was established by King Faisal bin Abdulaziz Al Saud in 1971( by Royal Decree M/24( with the stated intent to provide financing support for projects of strategic significance to the national economy.( For much of its history, the PIF was a passive entity that oversaw the Saudi state's equity in listed firms. When neighboring petrostates began using their sovereign wealth funds for influence, Saudi Arabia followed them. The PIF expanded its staff [...] In July 2014 the Council of Ministers granted the PIF authority to fund new companies inside and outside the Kingdom, either independently or in cooperation with the public and private sectors, without the council's prior approval.( In March 2015, oversight of PIF was moved from the Ministry of Finance "Ministry of Finance (Saudi Arabia)") to the Council of Economic and Development Affairs "Council of Economic and Development Affairs (Saudi Arabia)") (CEDA). As part of this process, a new PIF [...] 1. ^"Top 100 Largest Sovereign Wealth Fund Rankings by Total Assets – SWFI". _swfinstitute.org_. Archived from the original on 8 May 2020. Retrieved 10 June 2021. 2. ^"Public Investment Fund (PIF) – Sovereign Wealth Fund, Saudi Arabia – SWFI". _swfinstitute.org_. Archived from the original on 15 September 2020. Retrieved 17 March 2024.

• Public Investment Fund - The World Economic Forum

  Public Investment Fund is a sovereign wealth fund of the Government of Saudi Arabia. It seeks to invest through equity, loans or guarantees and through the allocation of public funds to specific projects. The firm provides medium and long-term loans to large-scale government and private industrial projects. It invests in telecoms, aerospace, energy, green technologies and security, with a particular focus on housing finance, renewable energy and information technology. The firm invests in and [...] finances projects in Saudi Arabia. Public Investment Fund was founded in 1971 and is based in Riyadh, Saudi Arabia.

• Public Investment Fund (PIF) - LinkedIn

  # Public Investment Fund (PIF) The Public Investment Fund is Saudi Arabia's sovereign wealth fund. Financial Services • Riyadh 6121, Alnakheel District • 1,380,860 followers • 1,001-5,000 employees [...] About Public Investment Fund (PIF) is building a world-class domestic and international investment portfolio, and is positioned to be transformed into the world’s largest sovereign wealth fund. Background The Public Investment Fund was originally established in 1971 to invest in commercial projects. In addition to making select investments in a range of companies and assets domestically and internationally. The Fund has contributed to the establishment of numerous Saudi Arabian companies, [...] وترسيخ مكانة المملكة كمركز عالمي للأعمال. [Likes: 142, Comments: 8]; Public Investment Fund (PIF) (1d): #PIF 's #AcceleratedManufacturingProgram is designed for ambitious manufacturers ready to scale. If your business meets the eligibility criteria, apply now to access expert support, industry connections and a platform for growth in Saudi Arabia. Apply now: صُمم برنامج #مسرعة_الأعمال_الصناعية من #صندوق_الاستثمارات_العامة خصيصاً لدعم الشركات الصناعية الناشئة التي تسعى للتوسع والنمو في السوق

• Saudi Arabia's Public Investment Fund Profile - PitchBook

  Saudi Arabia's Public Investment Fund is a sovereign wealth fund based in Riyadh, Saudi Arabia. Established in 1971, the fund focuses on sustainable investments, both domestically and internationally. The fund is expanding its portfolio of international assets, investing in global sectors and markets by building strategic partnerships and launching initiatives to contribute to the goals of the vision. The assets of the fund are managed by the executive management team. ### Contact Information [...] ##### Website www.pif.gov.sa ##### Year Founded 1971 Commitment Size Open To Secondaries Open To First Time Funds Institution Type Sovereign Wealth Fund Primary Contact Title Chief Financial Officer Email ya Phone +966 011 ##### Corporate Office Daeri Altaqneeyah Road, CS01 Building AlRaidah Digital City Riyadh 11442 Saudi Arabia +966 011    ## Saudi Arabia's Public Investment Fund Commitments (19)

• Public Investment Fund (PIF) News and Company Profile | AGBI

  Founded by royal decree by King Faisal bin Abdulaziz Al Saud in 1971, Saudi Arabia’s Public Investment Fund (PIF) was established as a mechanism for investment on behalf of the government. In July 2014 the PIF authority was granted permission to fund new companies inside and outside Saudi Arabia, either independently or in cooperation with the public and private sectors. [...] PIF is aligned with the Saudi Arabian government’s Vision 2030 with the aim to diversify the economy and is one of the largest sovereign wealth funds in the world, with total estimated assets of US$930 billion. More than 60 percent of PIF’s investments are within Saudi Arabia, including giga-projects such as Neom, Rua al Madinah, Amaala and Qiddiya, as well as Acwa Power, Maaden, Riyadh Air, Saudi National Bank and Saudi Tadawul. [...] PIF’s international investments include Accor, the Americana group, Blackstone, Jio Platforms, Lucid Motors, the Selfridges Group and Uber. PIF is also increasing its sport portfolio and partnerships, including establishing LIV golf and investing in English football club Newcastle United, as well as snooker, Formula 1, boxing, mixed martial arts, tennis, baseball and even darts. With headquarters in Digital City in Riyadh, PIF also has offices in London, Hong Kong and New York.