Sector: Diversified
Country: Saudi Arabia
Saudi Arabia’s Public Investment Fund (PIF) has evolved from a financial support vehicle for strategic projects into one of the world’s largest sovereign wealth funds.
In line with Saudi Vision 2030, PIF aims to build a diversified investment portfolio across multiple sectors both within Saudi Arabia and internationally.
The fund is rated Aa3 by Moody’s and A+ by Fitch, both with a stable outlook. It manages approximately $925bn in assets, has created over 1.1 million direct and indirect jobs globally, established 103 portfolio companies, and operates across 13 strategic sectors.
Between 2017 and 2024, PIF invested $84.7bn across Europe, contributing $52bn to the continent’s GDP and creating over 254,000 jobs.
Notably, its $8.6bn investment in France added $4.8bn to the French GDP and created 29,000 jobs.
PIF’s diverse portfolio includes King Abdullah Economic City (KAEC), Manara Minerals Investment Company, Riyadh Air, King Salman International Airport, and Gulf International Bank (GIB – KSA).
In early May, Saudi’s Crown Prince Mohammed bin Salman who also serves as Prime Minister and chairman of the PIF Board announced the launch of HUMAIN, a wholly owned PIF company.
HUMAIN will operate and invest across the artificial intelligence (AI) value chain as a unified entity. On March 10, PIF also announced the establishment of Al Waha Duty-Free Company, the first Saudi-owned duty free operator.
Fully owned by PIF, Al Waha aims to become a leader in travel retail and boost passenger spending within the Saudi economy.
On May 1, PIF priced a $1.25bn sukuk offering. The seven-year, dollar-denominated sukuk was more than 6.5 times oversubscribed, with orders exceeding $9bn.
It will be listed on the London Stock Exchange’s International Securities Market as part of PIF’s broader international sukuk programme.
Most recently, PIF opened a new subsidiary office in Paris, expanding its global footprint and strengthening ties with France a priority international market. The new office reflects its focus on engaging closely with local partners, businesses, and institutional investors.
