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Public Investment Fund (PIF)

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Latest Public Investment Fund (PIF) DevelopmentsAI Insights

Saudi Arabia’s Public Investment Fund (PIF) has experienced a tumultuous period in its US holdings, with the total value of its listed company investments dropping 55 percent from a peak of almost $60 billion in 2021. The decline has been linked primarily to its significant stake in Lucid Motors, whose value has decreased from about $39 billion in 2021 to $5.3 billion1. Despite this, PIF has seen considerable gains in other investments, notably Booking Holdings, which increased over 269 percent during the same period.

PIF remains active in diverse sectors of the US market, holding shares or call options in 62 companies, including notable positions in Uber, Electronic Arts, Amazon, PayPal, Microsoft, and Arm2. In response to fluctuating market conditions and strategic needs, the fund has adopted call options to potentially enhance its returns beyond conventional equity investments.

PIF has extended its influence in the global aviation sector through AviLease. PIF's subsidiary, AviLease, has signed agreements for aircraft leases with Turkish Airlines. Further expansion is anticipated within its fleet of 200 owned and managed aircraft4.

Saudi Arabia has ambitious international financial aspirations, seeking to compete with established markets like London and Hong Kong. However, analysts suggest that this vision requires substantial infrastructural development and increased international market participation5. With ongoing economic diversification efforts under Vision 2030, PIF is central to these developments and the broader regional investment strategy3.

Public Investment Fund (PIF) Overview

Founded by royal decree by King Faisal bin Abdulaziz Al Saud in 1971, Saudi Arabia’s Public Investment Fund (PIF) was established as a mechanism for investment on behalf of the government.

In July 2014 the PIF authority was granted permission to fund new companies inside and outside Saudi Arabia, either independently or in cooperation with the public and private sectors.

PIF is aligned with the Saudi Arabian government’s Vision 2030 with the aim to diversify the economy and is one of the largest sovereign wealth funds in the world, with total estimated assets of US$930 billion.

More than 60 percent of PIF’s investments are within Saudi Arabia, including giga-projects such as Neom, Rua al Madinah, Amaala and Qiddiya, as well as Acwa Power, Maaden, Riyadh Air, Saudi National Bank and Saudi Tadawul.

PIF’s international investments include Accor, the Americana group, Blackstone, Jio Platforms, Lucid Motors, the Selfridges Group and Uber.

PIF is also increasing its sport portfolio and partnerships, including establishing LIV golf and investing in English football club Newcastle United, as well as snooker, Formula 1, boxing, mixed martial arts, tennis, baseball and even darts.

With headquarters in Digital City in Riyadh, PIF also has offices in London, Hong Kong and New York.

Public Investment Fund (PIF) News

2PT4PT1 Young arab man smiling confident holding key of new car at street

iMENA Group plans IPO with backing of PIF’s Sanabil

A unit of Saudi Arabia’s Public Investment Fund (PIF) is investing in iMENA Group as the technology company seeks to raise $135 million from investors and prepare for an initial public offering. Riyadh-based Sanabil Investments – which is owned by $940 billion PIF – made the investment among other financiers including venture capital firm FJ […]

Emaar EC is the master planner and primary infrastructure developer of KAEC, a 185sq km city north of Jeddah

Emaar EC reschedules loan with consortium of Saudi banks

Emaar the Economic City (Emaar EC), the developer of King Abdullah Economic City, has signed an agreement with four Saudi banks to reschedule a total of SAR3.4 billion ($904 million) in existing financing. The agreement also includes securing a new credit facility of SAR287 million from Alinma Bank, Saudi Awwal Bank, Banque Saudi Fransi and […]

Profits and revenues at telecom provider STC rose in Q1

Q1 profits and revenue up for Saudi Telecom Company

Profits at Saudi Telecom Company (STC) rose in the first quarter of this year, pushing the share price of the kingdom’s biggest telecoms operator to a yearly high. Net profit rose 11 percent year on year to SAR3.6 billion ($973 million) in the first three months of 2025. Revenues for the quarter rose 2 percent […]

Saudi Arabia's 130 GW renewable target by 2030 hinges on securing equipment and local expertise for its growing solar and wind farms

Equipment and workforce key for Saudi renewables

Nacelles and blades, battery energy storage systems (BESS) and high voltage direct current (HVDC) cables, solar modules and wafers. A surge in large-scale renewable projects – such as the 2GW Al Shuaibah 2 solar project and 1.5GW Dawadmi wind farm – means the kingdom needs to secure equipment and expertise if it is to come […]

The PIF Tower in Riyadh. Despite some misses, Saudi Arabia's Vision 2030 shows progress in key areas like Public Investment Fund growth

Saudi Vision 2030 exceeds PIF targets, but others lag

Saudi Arabia’s Public Investment Fund (PIF) exceeded its 2024 target for assets under management by $60 billion, but the kingdom missed other annual goals in its Vision 2030 economic transformation and social development strategy. PIF now manages about $940 billion of assets, nearly 7 percent above its $880 billion target for the year, according to […]

Riyadh Air CEO Tony Douglas (left) at the 2023 singing of an order with Boeing for 72 aircraft

Riyadh Air willing to buy Boeing planes cancelled by China

Riyadh Air CEO Tony Douglas has said that the Saudi startup carrier would be ready to buy Boeing aircraft destined for Chinese airlines if they are not delivered due to the escalating trade war between the United States and China. Boeing is looking to resell potentially dozens of planes locked out of China by tariffs […]

A guest takes photos of a Tesla, displayed during the launch of the company's first showroom in Riyadh, Saudi Arabia electric vehicles

Saudi Arabia’s EV ambitions face ‘chicken and egg’ dilemma

Few of the car enthusiasts who attended Tesla’s launch in Riyadh last month arrived in electric vehicles.  Hundreds turned out for the much-heralded opening event in Riyadh, an indication that the furore around the Tesla brand and its owner Elon Musk has not crossed the Atlantic.  Despite this, public enthusiasm for electric vehicles (EVs) in […]

AviLease CEO Edward O'Byrne (left) says the company now has $2.25bn to fund expansion

Saudi aircraft lessor AviLease secures $1.5bn credit facility

Saudi Public Investment Fund unit Aircraft Leasing Company (AviLease) has finalised a $1.5 billion credit facility to fund aircraft purchases and business expansion, a local newspaper reported. The three-year facility, which was oversubscribed, garnered interest from 25 international and domestic banks, Arab News reported, citing AviLease CEO Edward O’Byrne. “Together with our existing revolver of […]

People on the Jeddah waterfront. The Marafy canal will run 10km inland from the coast

Jeddah’s residential canal project takes shape

Construction work on Marafy, a residential canal-waterfront project in Saudi Arabia’s second city, Jeddah, is gathering pace. Driven by Roshn Group, the property developer unit of the government’s Public Investment Fund (PIF), the development will have capacity to house more than 130,000 people.  Though no cost for the Marafy project has been made public, in […]