Public Investment Fund

The Public Investment Fund of Saudi Arabia, a Sovereign Wealth Fund, was founded in 1971 in Riyadh, Saudi Arabia. It currently holds assets worth $925 billion and has various subsidiaries and contacts.

In March 2015, the Kingdom's Council of Ministers issued Resolution 270, transferring the Public Investment Fund (PIF) under the direction of the Council of Economic and Development Affairs (CEDA), with Crown Prince Mohammed bin Salman as chairman. This move granted PIF more autonomy and clearly defined its national strategic duties.

In March 2016, it was announced that ownership of Saudi Aramco would be transferred to the Public Investment Fund (PIF) and that the Kingdom would seek to list 5 percent of Aramco's shares by 2017.

During the 2017 Saudi-US CEO Forum, PIF announced plans to invest $40 billion in infrastructure projects, mostly in the U.S.

In September 2018, PIF's first step in incorporating loans and debt instruments into its long-term strategy was announced, with an $11 billion loan facility.

The U.S.-Saudi Business Council discussed Saudi Arabia’s Public Investment Fund's new strategies, investments, and diversification.

A detailed explanation of the Public Investment Fund of Saudi Arabia, including its purpose, functions, and significance in the country's economy.

On March 15, 2023, Saudi National Bank chairman stated they would not supply Credit Suisse with more capital, causing a 25% drop in Credit Suisse's share price.

In September 2023, Public Investment Fund completed the acquisition of Hadeed, further expanding its investment portfolio and strategic interests in various sectors.

On October 13, 2023, Public Investment Fund had a portfolio exit involving Activision Blizzard, a major gaming company, through an acquisition deal with Microsoft, showcasing PIF's diverse investment interests.

In February 2024, PIF invested in Zamil Offshore, one of the leading Saudi offshore support vessel and construction service providers in the Arabian Gulf.

On February 19, 2024, PIF completed the pricing of a $2 billion international sukuk offering.

On February 27, 2024, PIF and ATP announced a multi-year strategic partnership to accelerate the growth of global tennis.

In March 2024, Lucid Motors, an Arizona-based electric vehicle manufacturer, secured a significant $1 billion investment from an affiliate of the Public Investment Fund (PIF), highlighting PIF's interest in the automotive industry.

Starting from 2024 to 2026, the WTA Finals, a prestigious women's tennis event, will take place in Saudi Arabia, showcasing the country's growing presence in the sports industry.

A long-term economic blueprint for Saudi Arabia aimed at reducing the country's dependence on oil, diversifying its economy, and developing public service sectors.