Company Insights Public Investment Fund (PIF) Finance Latest Public Investment Fund (PIF) DevelopmentsAI Insights The Public Investment Fund (PIF) invested $1 billion in LIV Golf in December, contributing to the company's expansion in global sports, despite financial losses of $395.9 million in 2023-2024 from international tournaments outside the US1. PIF also plans to invest $1.5 billion for a minority share in PGA Tour Enterprises. PIF hosted the third Future Investment Initiative in Miami, where Donald Trump spoke2. In January 2025, the Saudi crown prince promised up to $600 billion for trade with the US, yet observers questioned the plausibility given domestic investment priorities. PIF has initiated a €160 million joint venture with TK Elevator through Alat to produce lifts and escalators in Saudi Arabia3. Alat now holds a 15 percent stake in TK Elevator. PIF has been the majority owner of Lucid Motors since April 2019, infusing an additional $1 billion in March and $1.5 billion in August 2024. PIF's total investment of $8 billion for a 58 percent stake currently exceeds Lucid's market capitalisation4. As a founding investor in SoftBank's Vision Funds, PIF pledged $45 billion but chose not to inject new capital into the second iteration5. SoftBank has acknowledged unmet return expectations. 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 Business of Sport PIF considers new stadium for Newcastle United Saudi Arabia’s sovereign wealth fund is considering funding a new stadium development for English Premier League (EPL) side Newcastle United, according to UK media reports. The Public Investment Fund (PIF), which has over $925 billion worth of assets, led a buyout of Newcastle in October 2021, alongside PCP Capital Partners and RB Sports & Media […] March 14, 2025 Giga-projects Saudi Arabia still needs consultants despite PwC ban Saudi Arabia’s Public Investment Fund may have banned the global professional services giant PwC from any new advisory work for the next year, but the kingdom still needs all the help it can get, according to analysts. The country is spending billions of dollars on infrastructure and other projects as it attempts to diversify its […] March 13, 2025 Retail PIF launches Saudi Arabia’s first duty-free retailer The Public Investment Fund (PIF) has launched Saudi Arabia’s first duty-free operator as the kingdom targets 150 million annual visitors by the end of the decade, according to a statement. Al Waha Duty-Free Company (Al Waha), a wholly owned unit of the sovereign fund, aims to secure a “large” share of passenger spending to boost […] March 11, 2025 Aviation AirAsia raises $226m but stays quiet on PIF The parent company of Malaysian budget airline AirAsia has raised 1 billion ringgit ($226 million) to complete its reorganisation plan, according to a news report. “We have a 1 billion (ringgit) placement,” Capital A group CEO Tony Fernandes said at a press conference. “Don’t ask me questions on PIF’s placement order book – we are not […] March 10, 2025 Analysis Finance Canada must do more to capitalise on billion dollar Saudi projects Canada and Saudi Arabia have made progress towards ending a five-year diplomatic spat and mending trade and economic relations. However experts say that more could be done to deepen exchanges and investment ties – especially as US President Donald Trump kicks off a tariff war that may encourage Ottawa to widen its circle of trading […] March 7, 2025 Opinion Economy Aramco’s $40bn dividends drop highlights Saudi spending The shortfall is a blow to ambitious projects and reducing dependence on the oil giant's profits March 7, 2025 Opinion Business of Sport Saudis play the long game with focus on new sports and formats Saudi Arabia is determined to emerge victorious in the new sporting world order March 7, 2025 Aviation PIF plans major investment in Malaysia’s AirAsia Saudi Arabia’s sovereign wealth fund, the Public Investment Fund, is to invest $100 million in Malaysia’s Capital A-owned budget airline AirAsia, Bloomberg News reported on Thursday, citing people familiar with the matter. The Middle East investment forms the majority of AirAsia’s approximately one billion ringgit ($225 million) fundraising target, with the company also in discussions […] March 7, 2025 Business of Sport Saudi Arabia signs deal with TKO for boxing promotion Saudi Arabia could land a blow to boxing traditionalists after the launch of a new promotion. TKO Group, the US media conglomerate that has World Wrestling Entertainment (WWE) and Ultimate Fighting Championship (UFC) under its banner, has entered a multi-year agreement with the Saudi General Entertainment Authority, vowing to implement widespread changes to how boxing […] March 6, 2025 Business of Sport Saudi-backed Newcastle United narrows losses to $14m Saudi Arabia-backed Newcastle United Football Club has reported an £11 million ($14 million) loss for the last financial year, despite a 30 percent increase in revenues. The deficit at the Public Investment Fund majority owned English Premier League club was reduced by £60 million year on year, attributed largely to the money gained from qualifying […] March 6, 2025 Posts navigation 1 2 … 89 Next
Business of Sport PIF considers new stadium for Newcastle United Saudi Arabia’s sovereign wealth fund is considering funding a new stadium development for English Premier League (EPL) side Newcastle United, according to UK media reports. The Public Investment Fund (PIF), which has over $925 billion worth of assets, led a buyout of Newcastle in October 2021, alongside PCP Capital Partners and RB Sports & Media […] March 14, 2025
Giga-projects Saudi Arabia still needs consultants despite PwC ban Saudi Arabia’s Public Investment Fund may have banned the global professional services giant PwC from any new advisory work for the next year, but the kingdom still needs all the help it can get, according to analysts. The country is spending billions of dollars on infrastructure and other projects as it attempts to diversify its […] March 13, 2025
Retail PIF launches Saudi Arabia’s first duty-free retailer The Public Investment Fund (PIF) has launched Saudi Arabia’s first duty-free operator as the kingdom targets 150 million annual visitors by the end of the decade, according to a statement. Al Waha Duty-Free Company (Al Waha), a wholly owned unit of the sovereign fund, aims to secure a “large” share of passenger spending to boost […] March 11, 2025
Aviation AirAsia raises $226m but stays quiet on PIF The parent company of Malaysian budget airline AirAsia has raised 1 billion ringgit ($226 million) to complete its reorganisation plan, according to a news report. “We have a 1 billion (ringgit) placement,” Capital A group CEO Tony Fernandes said at a press conference. “Don’t ask me questions on PIF’s placement order book – we are not […] March 10, 2025
Analysis Finance Canada must do more to capitalise on billion dollar Saudi projects Canada and Saudi Arabia have made progress towards ending a five-year diplomatic spat and mending trade and economic relations. However experts say that more could be done to deepen exchanges and investment ties – especially as US President Donald Trump kicks off a tariff war that may encourage Ottawa to widen its circle of trading […] March 7, 2025
Opinion Economy Aramco’s $40bn dividends drop highlights Saudi spending The shortfall is a blow to ambitious projects and reducing dependence on the oil giant's profits March 7, 2025
Opinion Business of Sport Saudis play the long game with focus on new sports and formats Saudi Arabia is determined to emerge victorious in the new sporting world order March 7, 2025
Aviation PIF plans major investment in Malaysia’s AirAsia Saudi Arabia’s sovereign wealth fund, the Public Investment Fund, is to invest $100 million in Malaysia’s Capital A-owned budget airline AirAsia, Bloomberg News reported on Thursday, citing people familiar with the matter. The Middle East investment forms the majority of AirAsia’s approximately one billion ringgit ($225 million) fundraising target, with the company also in discussions […] March 7, 2025
Business of Sport Saudi Arabia signs deal with TKO for boxing promotion Saudi Arabia could land a blow to boxing traditionalists after the launch of a new promotion. TKO Group, the US media conglomerate that has World Wrestling Entertainment (WWE) and Ultimate Fighting Championship (UFC) under its banner, has entered a multi-year agreement with the Saudi General Entertainment Authority, vowing to implement widespread changes to how boxing […] March 6, 2025
Business of Sport Saudi-backed Newcastle United narrows losses to $14m Saudi Arabia-backed Newcastle United Football Club has reported an £11 million ($14 million) loss for the last financial year, despite a 30 percent increase in revenues. The deficit at the Public Investment Fund majority owned English Premier League club was reduced by £60 million year on year, attributed largely to the money gained from qualifying […] March 6, 2025
