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Last Updated:
2024-04-05 01:19:18

Public Investment Fund

Sovereign wealth fund of Saudi Arabia.
Sovereign wealth fund of Saudi Arabia.

The Public Investment Fund (PIF) is one of the largest sovereign wealth funds globally, managing assets worth US$925 billion. Established in 1971, it invests funds on behalf of the Saudi Arabian government, primarily within the country and in foreign assets like Newcastle United.

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1971
Establishment of Public Investment Fund of Saudi Arabia (PIF)

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.

2015-03
PIF Reborn Under CEDA

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.

2016-03
Transfer of ownership of Saudi Aramco to PIF

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.

2017
Investment Plans Announced at Saudi-US CEO Forum

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

2018-09
Incorporation of Loans and Debt Instruments into PIF's Strategy

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.

2021-10-04
Saudi Arabia’s Public Investment Fund Strategies

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

2021-10-31
Public Investment Fund of Saudi Arabia Definition

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

2023-03-15
Saudi National Bank's Decision on Credit Suisse

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.

2023-09-03
Public Investment Fund Acquires Hadeed

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

2023-10-13
Public Investment Fund's Portfolio Exit with Activision Blizzard

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.

2024-02-07
PIF invests in Zamil Offshore

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

2024-02-19
PIF completes pricing of $2 billion international sukuk offering

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

2024-02-27
PIF and ATP announce strategic partnership for global tennis growth

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

2024-03-27
Lucid Group Receives $1 Billion Investment from PIF Affiliate

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.

2024-04-04
WTA Finals to be held in Saudi Arabia

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.

2030
Vision 2030

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.

End of the Timeline
Public Investment Fund

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Public Investment Fund

Sovereign wealth fund of Saudi Arabia.
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