User:Riyadhcafe87/Public Investment Fund of Saudi Arabia
From Wikipedia, the free encyclopedia
The Public Investment Fund (PIF) is a sovereign wealth fund owned by Saudi Arabia the sovereign wealth fund of Saudi Arabia. The It is among the largest sovereign wealth funds in the world, with total estimated assets of $320 billion.[2][3] PIF has a portfolio made up of approximately 200 investments, of which around 20 are listed on Tadawul, the Saudi Stock Exchange.
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Founded | 1971; 53 years ago (1971) |
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Headquarters | , |
Key people | Crown Prince Mohammad bin Salman (Chairman) H.E. Yasir bin Othman Al-Rumayyan (Managing Director) |
AUM | $320 billion [1] |
Website | www.pif.gov.sa |
Established in 1971, PIF’s role has expanded to invest in a range of non-oil sectors within and outside Saudi Arabia, with the aim of encouraging domestic private sector development in support of the Saudi Vision 2030 program. As of September 2017 the PIF has $230 billion in assets under management.[4]
Initiatives financed by PIF within Saudi Arabia include projects to develop tourist destinations on the Red Sea coast; the development of the Kingdom’s entertainment sector; and Neom, a $500 billion independent economic zone focused on high-tech industries.