PIF Stands as a Conduit for Sino-Arabian Ties

17th July, 2024

An agreement by three major Chinese green energy manufacturers to build production plants in Saudi Arabia is the latest episode in a good news story for Sino-Arabian economic relations, but the US's wariness of Saudi reliance on Chinese technological transfer could put Saudi Arabia’s Public Investment Fund (PIF) in a dilemma.

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PIF Looks to Lift Economic Diversification by Igniting Hydrogen Production

12th July, 2024

Saudi Arabia’s Public Investment Fund (PIF) is planning to bolster hydrogen production by turning a little known subsidiary, the Energy Solutions Company (ESC), into a national champion, adding to its large and growing suite of industrial subsidiaries that seek to diversify the Kingdom’s economy, according to MEED.

PIF Joins Elite "Tera-Fund" Club

3rd July, 2024

Saudi Arabia’s Public Investment Fund (PIF) bounced back in 2023, with a net profit of SAR64.4 trillion (US$17.2 billion), according to a KPMG audit report lodged with the London Stock Exchange - and it is now likely to be in the unique group of "tera-funds" with over US$1 trillion of assets under management.

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Ardian Engages PIF and QIA in Aviation Investments

14th June, 2024

Private equity group Ardian is combining forces with Qatari and Saudi sovereign wealth funds in two separate major European transactions in the aviation sector, demonstrating an ongoing strategy to work closely with state-owned investors and combine their capital strengths.

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PIF Set to Boost AUM to US$1trn Through Share Issues, But Risks Abound

11th June, 2024

Reports that Saudi energy firm ACWA Power is planning to raise SAR7.1 billion (US$1.9 billion) through issuing stock to existing shareholders could further boost the Public Investment Fund’s (PIF) AUM as it strides towards a US$1 trillion portfolio – meanwhile, Aramco’s recent secondary offering poses some downside risks for the Saudi state and the economy's long-term diversification.

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Bahrain and Qatar SWFs Foster Closer China Links as Gulf Replaces Western Capital

5th June, 2024

*Bahrain’s sovereign wealth fund Mumtalakat may be a minnow compared to its Saudi, Emirati and Qatari peers, but is swimming towards stronger currents of capital with an agreement forged with the China Investment Corporation (CIC).

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PIF Bids for Liquidity as it Boosts Borrowing

3rd June, 2024

The decision by Saudi Arabia’s Public Investment Fund (PIF) to launch a rare sterling-denominated dual-tranche note offering suggests the sovereign wealth fund is resorting to international debt markets to fund the Kingdom’s Vision 2030 objectives – it’s total leverage is currently a little over 4% of total assets under management.

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PIF Reaches the Stratosphere with Satellite Subsidiary

28th May, 2024

Saudi Arabia’s Public Investment Fund (PIF) is developing its might as the dominant force in the national economy with the launch of yet another national champion subsidiary, this time devoted to satellite launches.

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QIA Joins Peers in Semiconductor Industry

23rd May, 2024

The Qatar Investment Authority (QIA) is playing catch-up with its Saudi and Emirati peers with a major investment in semiconductors as the global market seeks to diversify production following the chip shortage of 2020-23.

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PIF Dumps US Listed Assets, Lucid Falls Further

21st May, 2024

Saudi Arabia’s Public Investment Fund (PIF) slashed its US public equity holdings by 41.7% to US$20.56 billion in the first quarter of 2024, with its biggest stockholding EV carmaker Lucid slumping by 32.3% in value and non-Lucid holdings falling 43.5% to the lowest level since end-Q2 2021 as PIF dumped massive chunks of its equity portfolio.

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Saudi Arabia's Hassana Backs the Rise of Climate Funds

16th May, 2024

TPG Rise Climate vehicle has won another state-owned investor for its carbon-cutting mission with the US$320 billion Saudi public pension fund manager Hassana – part of the General Organization for Social Insurance (GOSI) – making forming a US$1.5 billion partnership, including a “substantial anchor commitment” to the new Transition Infrastructure fund and an allocation to the TPG Rise Climate II fund.

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BlackRock Deepens Relationship With Saudi Arabia

30th April, 2024

Saudi Arabia’s US$925 billion Public Investment Fund (PIF) has given BlackRock a US$5 billion mandate to help establish a multi-class investment firm based in the capital, called BlackRock Riyadh Investment Management.

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