Saudi fund deployed USD 31.6bn in 2023

Saudi Arabia’s Public Investment Fund deployed USD 31.6 billion across deals in various countries, including Brazil.

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S√£o Paulo ‚Äď Saudi Arabia‚Äôs Public Investment Fund (PIF) deployed USD 31.6 billion across 49 deals, newspaper Arab News reported. According to worldwide sovereign wealth fund tracker Global SWF, PIF was responsible for 25% of the USD 124.7 billion state-owned investments across the world in the 12 months to the end of December.

Internationally, PIF executed investments in US- and Japan-based gaming companies, Brazil’s Vale Basic Materials, and the UK’s Heathrow Airport. According to the report, PIF experienced a 33% growth in investments compared to 2022. (Pictured, a Vale operation.)

These investments aligns with the strategic goals of Saudi Arabia’s Vision 2030, underlining PIF’s role in driving the country’s economic development and diversification efforts. Furthermore, the report forecasts that the fund will be among the top three sovereign funds in the world by the end of the decade, with an estimated USD 2 trillion in assets under management.

Translation by Guilherme Miranda

 

©Mauro Pimentel/AFP

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