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public investment fund of saudi arabia

"[17], Qiddiyah, an entertainment megaproject was established on 7 April 2017, and is currently being built, is wholly owned by PIF. With assets worth approximately US$300 billion, the Public Investment Fund … [26], On 27 April 2020, PIF purchased a 5.7% stake (valued at $500 million) in concert distributor Live Nation. Historically Saudi investors have not been exposed to blind pool funds in the region. Saudi Arabia’s government strategy is clear regarding spending, according to Finance Minister Mohammed al-Jadaan, adding that the Kingdom’s Public Investment Fund intends to … The PIF has a portfolio made up of approximat… 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. 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). The ​Public Investment Fund seeks to become one of the largest sovereign wealth funds in the world. Saudi Arabia aims at transferring the PIF from a mere local authority to the largest sovereign fund in the world. 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. The lack of institutional limited partners in this space is also noticeable. The Public Investment Fund invests in specific projects through equity, loans or guarantees, and allocations of public funds. [11] The aim is to diversify government resources and the economy and to help unlock strategic sectors. [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]. May 16 2020. [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. In December, 2019, Saudi Arabia’s 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. Country of Incorporation Saudi Arabia Ownership Type Government Established In 1971 Primary Sector Financial Services Blackstone, whose CEO and founder — Stephen A. Schwarzman — is a top supporter of President Donald Trump, entered into a non-binding memorandum by which the PIF committed $20 billion to the project. The Public Investment Fund (PIF) is the sovereign wealth fund of Saudi Arabia. Established in 1971 by Royal Decree, the PIF … [19] PIF will inject initial capital in order to raise funds for investments by international actors in the tourism and hospitality sectors. [8], In March 2015, oversight of PIF was moved from the Ministry of Finance to the Council of Economic and Development Affairs (CEDA). (16) of 2016. The sovereign fund, which had around 40 employees in 2016, told Reuters in an email that 80 new recruits have been drawn from … 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. [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. The ​Public Investment Fund seeks to become one of the largest sovereign wealth funds in the world. 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. Public Investment Fund, Saudi Arabia – $320 billion. [2][3] It was founded for the purpose of investing funds on behalf of the Government of Saudi Arabia. Saudi Arabia’s 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. 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", "موقع هيئة الخبراء بمجلس الوزراء", Bloomberg - The Key Questions Asked About Saudi Arabia’s $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 – How to achieve our vision", "Financial Times - The Saudi Reshuffle: five key reforms in Riyadh, May 2016", "Al Arabiya – 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 ‘The Red Sea’ project as an international tourist destination as part of the Kingdom’s 2030 Vision, Saudi Arabia launches luxury Red Sea beach resorts plan, "Am considering taking Tesla private at $420. In 1974, PIF was mandated to hold equity positions in join-stock ventures within its domestic economy. 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. To be a global investment powerhouse and the worl d’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. [29] PIF also disclosed an $827.7 million stake in oil company BP. 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. 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 … 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. Yasir Al-Rumayyan (Arabic: ياسر الرميان ‎) 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. 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. 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. © The Public Investment Fund (PIF) was established in 1971 as the sovereign wealth fund of the Kingdom of Saudi Arabia. Saudi Arabia’s 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 In 1974, PIF was mandated to hold equity positions in join-stock ventures within its domestic economy. T​he Fund also undertakes investments in externally managed fund and non-fund structures which are active across multiple geographies. 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 dire​ct investments. [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. [4] The PIF has a portfolio made up of approximately 200 investments, of which around 20 are listed on Tadawul, the Saudi Stock Exchange. 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. [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 - … The Public Investment Fund Vision Realization Program strengthens the Public Investment Fund, which is the engine behind economic diversity in the KSA. It also develops high focus strategic sectors by growing and maximizing the impact of the fund’s investments, making it the largest sovereign wealth fund in the world. It is among the largest sovereign wealth funds in the world with total estimated assets of $382 billion. Saudi Arabia’s Public Investment Fund (PIF) Restructuring Program is one of the core projects in the country’s Vision 2030 initiative. [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. [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 of that post, the fund held almost 5% of Tesla stock, purchased through public markets. In November 2020, Saudi Arabia's PIF reduced its holdings in US stocks to $7 billion from $10.1 billion in the third quarter. Saudi Arabia’s 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 … Public Investment Fund (PIF) Investment Management Riyadh 6121, Alnakheel District 278,663 followers The Public Investment Fund is Saudi Arabia's sovereign wealth fund. (16) of 2016. Thus, PIF is working on managing assets worth $400 billion by 2020. 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