#Public Investment Fund

Saudi wealth fund PIF leads acquisition of Newcastle United after Premier League approval

Yasir Al-Rumayyan, governor of the Public Investment Fund, will serve as non-executive chairman of Newcastle United

Saudi sovereign wealth fund acquires 25% stake in Emaar the Economic City

The transaction is in line with Public Investment Fund’s Strategy 2021-2025, which focuses on building strategic economic partnerships

Saudi wealth fund plans green bond, works with BlackRock on ESG

The kingdom is looking to boost its environmental credentials

Saudi wealth fund buys a stake in Italian supercar maker Pagani

The Pagani family will keep full control of the company

Aramco joins group building giant solar plant in Saudi Arabia

The plant will start producing power in second half of 2022

Saudi wealth fund is said to hire ex-HSBC executive as director

Since 2015, the PIF’s assets under management have risen to $430bn from about $150bn

Saudi wealth fund weighs new airport in Riyadh for tourism drive

The crown prince’s economic transformation plan has identified Islamic pilgrimage as a key source of non-oil revenue

Saudi wealth fund appoints deputy governors to spur growth

The PIF has made several high-profile investments in recent years

Saudi firms will cut dividends to fund $1.3 trillion investments

The new plan comes after the coronavirus pandemic and oil market turmoil created a double crisis for Saudi Arabia

Saudi wealth fund raises year’s third-biggest loan for new deals

The $400bn sovereign investor is key to the kingdom’s efforts to revive economic growth

Saudi wealth fund may close its biggest-ever loan deal this week

The Public Investment Fund is raising about $15bn from a group of international banks to finance new investments

Lucid Motors

Lucid Motors agrees to go public with $24bn valuation

Lucid will now start production of its debut EV, a luxury sedan called the Air, in the second half of this year

Saudi’s Public Investment Fund to set up airline company – reports

The company will operate international and domestic flights

Saudi’s Public Investment Fund launches 5-year strategy; assets treble to $400bn

PIF aims to grow its assets under management to over $1.07 trillion by the end of 2025

Saudi’s $360bn sovereign wealth fund PIF rejigs top leadership

The reshuffle comes as the PIF and its subsidiaries prepare to significantly increase domestic spending

Saudi, Abu Dhabi wealth funds team up on Egyptian drugmaker deal

Public Investment Fund and ADQ are weighing the purchase of Bausch Health’s Cairo-based drug unit

Saudi Arabia’s Acwa Power set to raise $1bn in sukuk sale

The sukuk will be used to help fund Acwa’s share of an $8bn acquisition of gasification and power assets at Jazan

Saudi Arabia won’t tap debt market again in 2020, minister says

The world’s largest crude exporter is relying on more borrowing as it grapples with the impact of the twin economic shocks caused by oil market turmoil and the coronavirus pandemic

Saudi Arabia to pivot attention, plow funds at home

The fund intends to play a leading role in refocusing the economy toward underdeveloped industries

Saudi tourism megaproject near to closing $3.7bn loan

The Red Sea Development Co. project, owned by the kingdom’s Public Investment Fund, is the biggest leisure development, spanning over 10,000 square miles

Saudi’s Marafiq gets $280m to build Jeddah sewage treatment plant

Marafiq’s shareholders include the Public Investment Fund, Saudi Arabian Oil Co. and Saudi Basic Industries Corp

Saudi-backed Tesla rival Lucid Motors unveils four electric vehicle models

The flagship Lucid Air EV will start at just under $80,000

Saudi sovereign fund said to hire ex-Morgan Stanley risk officer

The PIF received an injection of $40bn from the kingdom’s reserves in March and April

Saudi wealth fund is said to repay $10bn bridge loan

PIF has shifted its focus from being mostly a domestic holding company to an international investment vehicle with stakes in Citigroup, Facebook and Boeing Co

Saudi wealth fund ditches blue-chip stocks, adds ETFs

The Public Investment Fund disclosed stakes worth $10.1bn at the end of the second quarter

Saudi bank NCB plans $15.6bn takeover of rival Samba

The combined bank would have total assets of about $210bn, making it the third largest in the region behind Qatar National Bank and First Abu Dhabi Bank

Saudi reserves fall more slowly after transfer to sovereign fund

The government is looking to its largest-ever debt programme to keep the depletion of reserves limited to SAR120bn

Saudi wealth fund exploring an investment in Reliance Jio

Facebook last month agreed to pay $5.7bn for a 10 per cent stake in the digital unit

Saudi Arabia wealth fund builds team to hunt for global bargains

The PIF is looking into “any opportunity” arising from the economic wreckage of the crisis

Lucid Motors

Electric car manufacturer Lucid Motors enters UAE and Saudi Arabia

The Saudi PIF-backed company is expected to begin deliveries of its Lucid Air model next year to customers in the Middle East