Saudi sovereign fund holds USD 300 bn in assets

The estimate regarding the Public Investment Fund (PIF) is from the Institute of International Finance. The amount could increase to USD 400 billion by 2020.

From the Newsroom

São Paulo – The Institute of International Finance (IIF), a global association of financial institutions, estimates that Saudi Arabia’s Public Investment Fund (PIF) holds USD 300 billion in assets. The Saudi sovereign fund has investments in multiple sectors, Thomson Reuters’ financial news website Zawya reported on Sunday (9).

The IIF said a major component of Saudi Arabia’s economic diversification plan Vision 2030 is “the transformation of the PIF from a state holding company into one of the world’s largest sovereign investment vehicles.” The goal is to reach USD 400 billion in 2020 and USD 2 trillion by 2030.

According to the IIF, one-fourth of PIF funds are invested abroad, including stakes in Japan’s Softbank Vision Fund, USA-based electric carmaker Tesla, Uber, the New York City infrastructure fund Blackstone, and investment funds in Russia and Egypt.

To the IIF, privatizations and the sale of 5% of oil company Saudi Aramco will soon significantly boost the PIF’s assets.

Translated by Gabriel Pomerancblum

Fayez Nureldine/AFP

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