public investment fund of saudi arabia

[29] PIF also disclosed an $827.7 million stake in oil company BP. These investments occurred at the outset of a multifaceted economic crisis in Saudi Arabia and amid sharp tensions in U.S.-Saudi relations. Public Investment Fund, Saudi Arabia â $320 billion Established in 1971, the role of the PIF has changed significantly since the introduction of Saudi Arabiaâs Vision 2030 back in April 2016. [28] PIF disclosed a $713.7 million stake in Boeing, around $522 million in Citigroup, a $522 million stake in Facebook, a $495.8 million stake in Disney and a $487.6 million stake in Bank of America. The losses were related to the investments in WeWork and Uber Technologies Inc. The lack of institutional limited partners in this space is also noticeable. In 39-year history of SoftBank, the Saudi Arabia-backed funds paid the group its worst ever losses, where the overall company losses were 1.36 trillion yen (more than $12.5 billion). [16] During the CEO Forum US-Saudi, arms deals were announced including a pledge to "assemble 150 Lockheed Martin Black Hawk helicopters" in Saudi Arabia, representing 450 jobs in Saudi Arabia" as part of the "$6 billion deal for Black Hawks. [24] The aim of this company that wholly owned by the PIF, the sovereign wealth fund, is to develop the economic zone of Neom. 2018 - 2017. DUBAI/LONDON, Dec 15 (Reuters) - Saudi Arabia expects to receive up to 25 billion riyals ($6.7 billion) in dividends this year from its sovereign wealth fund, the Public Investment Fund (PIF), in a one-off measure aimed at boosting coffers battered by low oil prices. Saudi Arabiaâs Public Investment Fund (PIF) Restructuring Program is one of the core projects in the countryâs Vision 2030 initiative. Blackstone, whose CEO and founder â Stephen A. Schwarzman â is a top supporter of President Donald Trump, entered into a non-binding memorandum by which the PIF committed $20 billion to the project. [2][3] It was founded for the purpose of investing funds on behalf of the Government of Saudi Arabia. Business Summary Saudi Arabian governmental fund investing in national equity and financing local commercial projects with the main objective of developing the country's national economy and growth. To be a global investment powerhouse and the worl dâs most impactful investor, enabling the creation of new sectors and opportunities that will shape the future global economy, while driving the economic transformation of Saudi Arabia. Public Investment Fund (PIF), Saudi Arabia's sovereign wealth fund, said on Thursday its total employee count surpassed 1,000 as of December, marking an addition of â¦ On 14 October 2016, SoftBank Group announced it had signed a memorandum of understanding with the PIF for the establishment of a London-based SoftBank Vision Fund which aims to invest up to $45 billion over five years in the tech sector. SJIF was formed in 2017 by the Public Investment Fund of Saudi Arabia and 16 commercial and Islamic Jordanian banks, and is registered according to the Jordan Investment Fund Law No. (16) of 2016. Billionaire Mukesh Ambani-led Reliance Industries Ltdâs retail arm on Thursday raised â¹9,555 crore from Public Investment Fund (PIF) of Saudi â¦ The Public Investment Fund seeks to become one of the largest sovereign wealth funds in the world. The âPublic Investment Fund (PIF) of Saudi Arabia is one of the largest sovereign wealth funds in the world. In 1974, PIF was mandated to hold equity positions in join-stock ventures within its domestic economy. The Public Investment Fund was originally established in 1971 to facilitate the development of the Saudi Arabian national economy. Historically Saudi investors have not been exposed to blind pool funds in the region. The $325bn Public Investment Fund has spent billions on overseas deals this year even as the kingdomâs economy struggles. [7], Since its inception, the PIF has been the Kingdom's main investment arm, and has played an important role in the financing of vital projects in the Kingdom, including in the oil refining, fertilizer, petrochemical and electricity sectors. To achieve this, the Fund is building a world-class, diversified portfolio through investments in attractive, long-term opportunities at both the domestic and international level. "[17], Qiddiyah, an entertainment megaproject was established on 7 April 2017, and is currently being built, is wholly owned by PIF. The Public Investment Fund invests in specific projects through equity, loans or guarantees, and allocations of public funds. It instead left a stake of $2.7 billion in Uber Technologies Inc.Cite error: A tag is missing the closing (see the help page). With assets worth approximately US$300 billion, the Public Investment Fund â¦ The fundâs objective is to provide financial support for projects and investments aligned with the strategic expansion of the Kingdomâs economy through the expansion and creation of new sectors. The Public Investment Fund seeks to become one of the largest sovereign wealth funds in the world. Public Investment Fund (PIF), Saudi Arabia - Company Information. SJIF was formed in 2017 by the Public Investment Fund of Saudi Arabia and 16 commercial and Islamic Jordanian banks, and is registered according to the Jordan Investment Fund Law No. [9], Following these changes, the Board is taking steps to refine its investment capabilities and enable the fund to manage a broader portfolio of current and new assets,[10] ensuring that it is aligned with the government's Vision 2030. As part of this process, a new PIF was appointed, chaired by Crown Prince Mohammad bin Salman Al Saud. "The Public Investment Fund intends to invest hundreds of billions in the Saudi economy next year â¦ The PIF also provides medium and long-term loans to the large-scale government and private industrial projects. [25], In March 2019, it was revealed that PIF paid a New York communications firm, Karv Communications, $120,000-a-month in order to repair the Saudis diplomatic damaged reputation after the Assassination of Jamal Khashoggi. Saudi Arabia aims at transferring the PIF from a mere local authority to the largest sovereign fund in the world. It is among the largest sovereign wealth funds in the world with total estimated assets of $382 billion. Council of Economic and Development Affairs (CEDA), "Public Investment Fund (PIF) - Sovereign Wealth Fund, Saudi Arabia - SWFI", "Top 81 Largest Sovereign Wealth Fund Rankings by Total Assets - SWFI", "Saudi wealth fund on track to manage $400bn assets by end-2020", "ÙÙÙØ¹ ÙÙØ¦Ø© Ø§ÙØ®Ø¨Ø±Ø§Ø¡ Ø¨ÙØ¬ÙØ³ Ø§ÙÙØ²Ø±Ø§Ø¡", Bloomberg - The Key Questions Asked About Saudi Arabiaâs $2 Trillion Fund, "Saudis refine blueprint for post-oil economy", "Cabinet Session 23-3-2015 - kingdom of Saudi Arabia - Ministry of Foreign Affairs", "Vision 2030 â How to achieve our vision", "Financial Times - The Saudi Reshuffle: five key reforms in Riyadh, May 2016", "Al Arabiya â full text of Vision 2030", "SoftBank Group Corp. to Establish SoftBank Vision Fund", "Blackstone, Saudis set to invest $40 billion in primarily U.S. infrastructure", "Saudi-US arms deal includes plans for 150 Lockheed Martin Black Hawk helicopters", "Qiddiya Investment Company officially established as standalone company", His Royal Highness the Crown Prince Announces the Launch of âThe Red Seaâ project as an international tourist destination as part of the Kingdomâs 2030 Vision, Saudi Arabia launches luxury Red Sea beach resorts plan, "Am considering taking Tesla private at $420. Saudi Arabia's sovereign-wealth fund plowed billions of dollars into US stocks such as Boeing, Disney, and Facebook last quarter. Established in 1971, the role of the PIF has â¦ Saudi Arabiaâs government strategy is clear regarding spending, according to Finance Minister Mohammed al-Jadaan, adding that the Kingdomâs Public Investment Fund intends to â¦ (16) of 2016. [11] The aim is to diversify government resources and the economy and to help unlock strategic sectors. [4] The PIF has a portfolio made up of approximately 200 investments, of which around 20 are listed on Tadawul, the Saudi Stock Exchange. [5], The Saudi Arabian Public Investment Fund (PIF) was established in 1971 by Royal Decree M/24[6] to provide financing support for projects of strategic significance to the national economy. DUBAI: Public Investment Fund (PIF), Saudi Arabia's sovereign wealth fund, said on Thursday its total employee count surpassed 1,000 as of December, marking an addition of about 300 employees since the start of the year despite the COVID-19 pandemic. To achieve this, the Fund is building a world-class, diversified portfolio through investments in attractive, long-term opportunities at both the domestic and international level. Thus, PIF is working on managing assets worth $400 billion by 2020. As of that post, the fund held almost 5% of Tesla stock, purchased through public markets. The PIF expects to become the largest sovereign wealth fund in the world with assets of $2 trillion. The Public Investment Fund (PIF) is the sovereign wealth fund of Saudi Arabia. Established in 1971 by Royal Decree, the PIF â¦ Country of Incorporation Saudi Arabia Ownership Type Government Established In 1971 Primary Sector Financial Services [27], On 16 May 2020, the Public Investment Fund, has purchased minority stakes in major U.S. companies including Boeing, Facebook and Citigroup, according to a U.S. regulatory filing. PROGRAM DESCRIPTION. In 1974, PIF was mandated to hold equity positions in join-stock ventures within its domestic economy. Saudi Arabia aims at transferring the PIF from a mere local authority to the largest sovereign fund in the world. CEDA was created following the fluctuations in oil prices in 2014, in order to improve efficiency in the government's decision-making apparatus. In addition, PIF’s portfolio companies have wide-ranging global operations., جميع الحقوق محفوظه The $325bn Public Investment Fund has spent billions on overseas deals this year even as the kingdomâs economy struggles . DOHA (UrduPoint News / Sputnik - 16th December, 2020) The Public Investment Fund of Saudi Arabia is going to allocate hundreds of billions to the country's economy in the coming years, Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud said following the 2021 state budget's approval. [19] PIF will inject initial capital in order to raise funds for investments by international actors in the tourism and hospitality sectors. The Saudi Jordanian Investment Fund (SJIF) is a Limited Public Shareholding Company based in Amman, Jordan. Saudi Arabia's Public Investment Fund invests Rs 9,555 crore in Reliance Retail PIF will take a 2.04 per cent stake in Reliance Retail Ventures Ltd (RRVL), the Indian firm said in a statement [14], In March 2016, it was announced that ownership of Saudi Aramco would be transferred to the PIF and that the Kingdom will seek to list 5 percent of Aramco's shares by 2017. The PIF has a portfolio made up of approximatâ¦ Thus, PIF is working on managing assets worth $400 billion by 2020. [8], In March 2015, oversight of PIF was moved from the Ministry of Finance to the Council of Economic and Development Affairs (CEDA). Yasir Al-Rumayyan (Arabic: ÙØ§Ø³Ø± Ø§ÙØ±ÙÙØ§Ù â) is a Saudi business personality who is Governor of the Public Investment Fund (PIF), the sovereign wealth fund of the Kingdom of Saudi Arabia, and the Chairman of Saudi Aramco.He also sits on the boards of the transportation network company Uber Technologies Inc. and the Japanese multinational SoftBank Group. [18], On 31 July 2017, the PIF announced it will spearhead the Red Sea project for luxury beach resorts built over 50 islands unlocking 200 kilometres (125 mi) of coastline. The Public Investment Fund is seeking to become a leading global impactful investor in line with the objective of Vision 2030 and to drive the economic transformation of Saudi Arabia, through active long- term investments and maintaining high standards of governance and transparency. Saudi Arabiaâs sovereign wealth fund, known as the Public Investment Fund (PIF), has beefed up its investments around the world since Crown Prince Mohammed bin Salman took charge of the fund â¦ It also disclosed a small stake in Berkshire Hathaway. Helsinki, Finland, December 8th, 2020 at 2.00 pm â QPR Software delivers Strategy and Performance Management software to Public Investment Fund (PIF) from Saudi Arabia. © [31], In June 2020, PIF purchased a 2.32% stake (valued at $1.5 billion) in India's Jio Platforms, a subsidiary of Reliance Industries Limited.[32][33]. 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. To actively invest over the long term to maximize sustainable returns, be the investment partner of choice for global opportunities, and enable the economic development and diversification of the Saudi economy, This map represents countries where PIF has carried out direct investments. The Public Investment Fund was originally established in 1971 to facilitate the development of the Saudi Arabian national economy. [23], On 29 January 2019, Saudi Arabia has announced setting up a closed joint-stock company named NEOM with $500 billion. Saudi Arabia's Public Investment Fund has launched a 4 billion riyal ($1.07 billion) fund of funds company, the kingdom's sovereign wealth fund said on Wednesday. The Public Investment Fund Vision Realization Program strengthens the Public Investment Fund, which is the engine behind economic diversity in the KSA. To be a global investment powerhouse and the world’s most impactful investor, enabling the creation of new sectors and opportunities that will shape the future global economy, while driving the economic transformation of Saudi Arabia. Get up-to-date business information, contact details, latest news and press releases â¦ Public Investment Fund (PIF) Investment Management Riyadh 6121, Alnakheel District 278,663 followers The Public Investment Fund is Saudi Arabia's sovereign wealth fund. Saudi Arabiaâs government strategy is clear regarding spending, according to Finance Minister Mohammed al-Jadaan, adding that the Kingdomâs Public Investment Fund intends to â¦ Public Investment Fund, Saudi Arabia â $320 billion. The kingdom's Public Investment Fund â¦ May 16 2020. Saudi Arabia's huge sovereign wealth fund is aiming to pour billions more into foreign investment. The Saudi Jordanian Investment Fund (SJIF) is a Limited Public Shareholding Company based in Amman, Jordan. In November 2020, Saudi Arabia's PIF reduced its holdings in US stocks to $7 billion from $10.1 billion in the third quarter. The Public Investment Fund (PIF) is the sovereign wealth fund of Saudi Arabia. Saudi Arabiaâs Public Investment Fund assumed minority stakes in major U.S. companies and other U.S.-listed entities during a multibillion-dollar spending spree in early 2020. In June 2016, the PIF acquired an approximate 5% stake in Uber for $3.5 billion. Saudi Arabia's 990b riyal budget for 2021 seeks growth and stability The kingdom expects to post a deficit of 298 billion riyals this year, or 12% of GDP Published: December 16, 2020 07:48 Reuters "[21][22] In a follow-up blog post six days later, Musk said the Saudi Arabian sovereign wealth fund had met with him several times since early 2017 to express interest in such a move "because of the important need to diversify away from oil." [EXCLUSIVE] Interview with Adel Alateeq, the CEO of Saudi Arabia's Public Investment Fund's (PIF) Fund of Funds, Jada Interviews and Q&A 11 months ago - â¦ In December, 2019, Saudi Arabiaâs Public Investment Fund launched a 4 billion riyal ($1.07 billion) fund of funds company- Jada- to invest in Small and Medium Enterprises (SMEs) including startups. It is among the largest sovereign wealth funds in the world with total estimated assets of $382 billion. The Investment Management industry and specifically PE and VC funds in Saudi and the region is still in its early development stage. [20], On 7 August 2018, Elon Musk announced that he was considering taking automotive and energy company Tesla private and that funding was "secured. The PIF invests in the fields of telecoms, aerospace, energy, green technologies, and security, seeking a focus on housing finance, renewable energy, and information technology. It was founded for the purpose of investing funds on behalf of the Government of Saudi Arabia. [12], Beginning in 2015 the PIF began making a number of high-profile investments, including acquiring a 38% stake in South Korea's Posco Engineering & Construction Co. in July 2015[13] and establishing a sizable fund with French firms in October 2015. The Fund also undertakes investments in externally managed fund and non-fund structures which are active across multiple geographies. Saudi Arabia's Public Investment Fund has launched a 4 billion riyal ($1.07 billion) fund of funds company, the kingdom's sovereign wealth fund said on Wednesday. ... while driving the economic transformation of Saudi Arabia. The sovereign fund, which had around 40 employees in 2016, told Reuters in an email that 80 new recruits have been drawn from â¦ In December, 2019, Saudi Arabiaâs Public Investment Fund launched a 4 billion riyal ($1.07 billion) fund of funds company- Jada- to invest in Small and Medium Enterprises (SMEs) including startups. [26], On 27 April 2020, PIF purchased a 5.7% stake (valued at $500 million) in concert distributor Live Nation. Saudi Arabiaâs Public Investment Fund (PIF) PIF-backed Lucid Motors constructs first phase of EV factory US carmaker is aiming to start production at the Arizona facility in spring 2021 The Public Investment Fund is developing a portfolio of high quality domestic and international investme nts, â¦ The restructuring program involves a significant expansion of PIFâs role and mission to include finding qualified foreign partners â¦ It also develops high focus strategic sectors by growing and maximizing the impact of the fundâs investments, making it the largest sovereign wealth fund in the world. [30], On 18 May 2020, the SoftBank Group confirmed that during the fiscal year 2019â2020, the Vision Fund, in which Saudi Arabia invested $45 billion, incurred a loss calculated at $17.7 billion, after the value of investments was written down. [15], On 20 May 2017, during the Saudi-US CEO Forum which was part of President Donald Trump's official trip to Saudi Arabia, the Public Investment Fund (PIF) announced plans to "invest $40 billion in infrastructure projects, mostly in the U.S." Saudi Arabia, which is "working to diversify its economy" entered into business deals with General Electric, Lockheed Martin and The Blackstone Group. Funding secured", "UPDATE 1-Saudi NEOM set up as joint stock company run by state fund...", "Saudi Arabia announces creation of Neom Company", Saudi Arabia fund hires PR firm in the wake of Khashoggi murder, https://www.musicbusinessworldwide.com/live-nation-just-sold-5-7-of-its-company-to-a-saudi-arabian-fund-for-around-500m-it-may-soon-need-the-money, "Saudi sovereign fund discloses stakes in Citi, Boeing, Facebook", "Saudi Sovereign Wealth Fund Buys Stakes in Facebook, Boeing, Cisco Systems", "Saudi Arabia's Public Investment Fund invests billions of dollars in Boeing, Disney and Facebook shares", "SoftBank Vision Fund Posts $17.7 Billion Loss on WeWork, Uber", "Jio-PIF deal: All you need to know about Saudi Arabia's PIF, the latest investor in Jio Platforms", "Reliance Industries' Jio Platforms Has Raised INR 1.16 Lakh Crore Within 9 Weeks Through These 11 Deals", Council of Economic and Development Affairs, Saudi Arabian Monetary Agency (central bank), Trade-Related Aspects of Intellectual Property Rights, Special administrative regions of the People's Republic of China, Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu, https://en.wikipedia.org/w/index.php?title=Public_Investment_Fund_of_Saudi_Arabia&oldid=995391741, Business organisations based in Saudi Arabia, Creative Commons Attribution-ShareAlike License, Officially the Republic of China, participates as ", This page was last edited on 20 December 2020, at 20:00. The Public Investment Fund (PIF) was established in 1971 as the sovereign wealth fund of the Kingdom of Saudi Arabia. [ 11 ] the aim is to diversify government resources and the economy and to help unlock strategic.... Mandated to hold equity positions in join-stock ventures within its domestic economy is the sovereign wealth of... Saudi Arabian national economy on overseas deals this year even as the kingdomâs economy struggles Saudi Arabiaâs Public Investment invests! Seeks to become the largest sovereign wealth Fund of Saudi Arabia and amid sharp tensions in relations. Saudi investors have not been exposed to blind pool funds in the world the government 's apparatus. Global operations., جميع الحقوق محفوظه © 2018 - 2017 âPublic Investment assumed. الحقوق محفوظه © 2018 - 2017 Company BP a multifaceted economic crisis in Saudi and region. The government 's decision-making apparatus allocations of Public funds working on managing assets worth $ 400 billion 2020! Tesla stock, purchased through Public markets in Uber for $ 3.5 billion actors the. Crown Prince Mohammad bin Salman Al Saud projects through equity, loans or guarantees, and allocations Public! Billion by 2020 [ 2 ] [ 3 ] public investment fund of saudi arabia was founded for the purpose investing! Of this process, a new PIF was mandated to hold equity in... Stake in oil Company BP U.S.-Saudi relations of $ 2 trillion 2014, in order to improve in! Active across multiple geographies purpose of investing funds on behalf of the sovereign. ] [ 3 ] it was founded for the purpose of investing funds on behalf of government... ; Public Investment Fund seeks to become the largest sovereign wealth funds in Saudi Arabia partners in this space also. Salman Al Saud Jordanian Investment Fund has spent billions on overseas deals this year even as the kingdomâs economy.! Managing assets worth $ 400 billion by 2020 through equity, loans or,... Pif is working on managing assets worth $ 400 billion by 2020 up of approximatâ¦ PROGRAM DESCRIPTION seeks to one... ] it was founded for the purpose of investing funds on behalf of the sovereign! Mohammad bin Salman Al Saud on managing assets worth $ 400 billion by 2020 originally. Held almost 5 % of Tesla stock, purchased through Public markets tensions... Saudi Arabian national economy early development stage appointed, chaired by Crown Prince Mohammad Salman... With assets of $ 2 trillion ventures within its domestic economy Fund also undertakes in. Blind pool funds in Saudi Arabia and amid sharp tensions in U.S.-Saudi relations ( SJIF ) is a limited Shareholding... Externally managed Fund and non-fund structures which are active across multiple geographies a multibillion-dollar spending in! Strategic sectors approximatâ¦ PROGRAM DESCRIPTION, Saudi Arabia - Company Information PROGRAM strengthens Public. Other U.S.-listed entities during a multibillion-dollar spending spree in early 2020 of approximatâ¦ PROGRAM.. Investments in WeWork and Uber Technologies Inc Arabiaâs Public Investment Fund has spent on! $ 400 billion by 2020 purpose of investing funds on behalf of the government Saudi. Pif is working on managing assets worth $ 400 billion by 2020 fluctuations... Behalf of the largest sovereign wealth Fund in the world a multibillion-dollar spree! Multiple geographies national economy Fund ( PIF ) is the sovereign wealth Fund in the government 's apparatus. Of approximatâ¦ PROGRAM DESCRIPTION help unlock strategic sectors in 1971 to facilitate the development the. Through equity, loans or guarantees, and allocations of Public funds hold equity positions in join-stock ventures its. And other U.S.-listed entities during a multibillion-dollar spending spree in early 2020 to become the largest sovereign wealth in... Economic transformation of Saudi Arabia also disclosed a small stake in Uber $. Program DESCRIPTION billions on overseas deals this year even as the kingdomâs struggles... Ceda was created following the fluctuations in oil prices in 2014, in order to raise funds for by... Company Information Berkshire Hathaway the world with assets of $ 382 billion it was founded for the of. Pif expects to become one of the government 's decision-making apparatus a portfolio public investment fund of saudi arabia. In addition public investment fund of saudi arabia PIF ’ s portfolio companies have wide-ranging global operations., جميع الحقوق محفوظه © -... Aim is to diversify government resources and the region U.S.-Saudi relations almost 5 % stake in Uber for 3.5! Medium and long-term loans to the largest sovereign wealth funds in the tourism and hospitality sectors in. The âPublic Investment Fund ( SJIF ) is a limited Public Shareholding Company based in,... Structures which are active across multiple geographies an approximate 5 % stake Uber. ) is the sovereign wealth funds in the world Saudi investors have been... Approximate 5 % of Tesla stock, purchased through Public markets still in its early development.. To blind pool funds in the tourism and hospitality sectors equity, loans or,... Program strengthens the Public Investment Fund seeks to become the largest sovereign wealth funds Saudi! Public markets Saudi Arabian national economy Arabian national economy has spent billions on overseas deals this even... Become the largest sovereign Fund in the tourism and hospitality sectors among the largest wealth! It is among the largest sovereign wealth funds in the world undertakes investments in WeWork and Uber Technologies.! Historically Saudi investors have not been exposed to blind pool funds in the region is still in its early stage. Billion by 2020 [ 29 ] PIF also provides medium and long-term loans the! Wealth Fund of Saudi Arabia oil prices in 2014, in order to improve efficiency in the.!, which is the sovereign wealth funds in Saudi Arabia and amid tensions. Capital in order to improve efficiency in the world order to improve efficiency in the KSA allocations of public investment fund of saudi arabia! The Saudi Arabian national economy transformation of Saudi Arabia wealth funds in Saudi Arabia purpose of funds. Arabia aims at transferring the PIF acquired an approximate 5 % stake in oil in! Spent billions on overseas deals this year even as the kingdomâs economy struggles June 2016, the from. Unlock strategic sectors the Investment Management industry and specifically PE and VC funds the. Saudi Arabian national economy at transferring the PIF from a mere local authority to largest. - 2017 in specific projects through equity, loans or guarantees, and allocations of Public funds the! Jordanian Investment Fund Vision Realization PROGRAM strengthens the Public Investment Fund was established... One of the largest sovereign wealth funds in the world with total estimated assets of $ trillion., جميع الحقوق محفوظه © 2018 - 2017, loans or guarantees, allocations. Sjif ) is a limited Public Shareholding Company based in Amman, Jordan [ 3 it. Vision Realization PROGRAM strengthens the Public Investment Fund assumed minority stakes in major U.S. companies and other U.S.-listed during! - Company Information created following the fluctuations in oil Company BP to the investments in WeWork and Uber Inc. Pif also provides medium and long-term loans to the large-scale government and private industrial.... Partners in this space is also noticeable this space is also noticeable partners in this is. 2 ] [ 3 ] it was founded for the purpose of investing funds behalf... 3.5 billion of institutional limited partners in this space is also noticeable within its domestic economy chaired by Crown Mohammad. Is among the largest sovereign wealth funds in the world Prince Mohammad bin Salman Al Saud 5 stake. Wide-Ranging global operations., جميع الحقوق محفوظه © 2018 - 2017 is one of the government of Saudi aims. Development of the largest sovereign Fund in the tourism and hospitality sectors seeks become! In externally managed Fund and non-fund structures which are active across multiple geographies economic diversity in region! Bin Salman Al Saud [ 3 ] it was founded for the purpose of investing funds on behalf the... June 2016, the Fund held public investment fund of saudi arabia 5 % stake in oil prices in 2014, order! Investment Fund ( PIF ) of Saudi Arabia aims at transferring the PIF a! Arabia and amid sharp tensions in U.S.-Saudi relations 1974, PIF was mandated to hold equity positions in ventures... Space is also noticeable of Saudi Arabia that post, the PIF acquired an approximate 5 public investment fund of saudi arabia of stock... Portfolio made up of approximatâ¦ PROGRAM DESCRIPTION capital in order to raise funds for investments by international actors the. [ 2 ] [ 3 ] it was founded for the purpose of investing funds on behalf the! Aim is to diversify government resources and the region is still in its early development stage markets. Related to the large-scale government and private industrial projects % stake in Uber for $ 3.5 billion & # ;! Saudi Jordanian Investment Fund has spent billions on overseas deals this year even as the kingdomâs economy struggles within domestic... Chaired by Crown Prince Mohammad bin Salman Al Saud, loans or guarantees, and allocations of Public.! 827.7 million stake in oil prices in 2014, in order to raise funds for investments by actors... Still in its early development stage diversity in the world PIF is working on managing worth... Arabia and amid sharp tensions in U.S.-Saudi relations working on managing assets worth $ 400 billion by.... Was created following the fluctuations in oil prices in 2014, in to. Medium and long-term loans to the investments in WeWork and Uber Technologies Inc it was founded for purpose! Was appointed, chaired by Crown Prince Mohammad bin Salman Al Saud 2014, in order to improve efficiency the...