22nd June, 2023
Bahrain’s sovereign wealth fund Mumtalakat has consolidated its hold on British carmaker McLaren by buying stakes from Saudi Arabia’s Public Investment Fund (PIF) and Ares Management for GBP400 million (US$510 million).
20th June, 2023
The Investment Management Corporation of Ontario (IMCO) announced today that it is piling US$400 million into Sweden-based Northvolt, joining a raft of other public pension funds including provincial stablemate OMERS that have invested in the battery manufacturing giant.
30th January, 2023
Rumors that Saudi Arabia's Public Investment Fund (PIF) is set to take electric vehicle maker Lucid private by buying a 34.5% stake from public markets have fuelled a massive rise in its stock price, following months of steep decline.
29th December, 2022
The final quarter of 2022 was hugely disappointing for PIF’s US public equity holdings with the diving value of Lucid Motor’s stock wiping US$7.4 billion off the value of the stockholding, representing 1.2% of the Saudi sovereign fund’s AUM.
9th December, 2022
The Indonesia Investment Authority’s (INA) push for a green energy transition has won the backing of the Danish government’s Investment Fund for Developing Countries (IFU) with the signing of an Investment Framework Agreement (IFA) for up to US$500 million in co-investments in renewable energy, water, waste management, and other circular opportunities.
25th November, 2022
Saudi Arabia’s Public Investment Fund saw US$6.6 billion wiped off the value of its US public equity portfolio in Q3, around three quarters of which was caused by the 18.6% decline in the value of its stake in Lucid which was worth US$14.2 billion at end-September.
14th November, 2022
The Indonesia Investment Authority (INA) has teamed up with Chinese investors to boost the country’s EV value chain as Southeast Asia’s most populous country presses ahead with a green automotive revolution.
8th November, 2022
Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), is emerging as a leading financier of electric vehicles with the launch of its own indigenous brand, Ceer, in a joint venture with and Taiwan-based Hon Hai Precision Industry Company (Foxconn).
19th September, 2022
The Qatar Investment Authority (QIA), Norway’s Norges Bank, and Abu Dhabi’s ADQ are joining with institutional investor T. Rowe Price as key cornerstone investors in the EUR9.4 billion IPO of Porsche AG, together committing up to EUR3.7 billion - signalling that SWFs' interest in the automotive industry continues to grow.
15th July, 2022
Saudi Arabia’s Public Investment Fund (PIF) is continuing its drive in the luxury vehicle markets, becoming the second-largest shareholder in Aston Martin Lagonda.
8th October, 2021
Saudi Arabia’s Public Investment Fund and the Abu Dhabi Investment Authority (ADIA) have been approached to help support a US$1.0-1.5 billion investment in Tata Group’s electric vehicle subsidiary by US private equity group TPG Capital.
19th July, 2021
Saudi Arabia’s Public Investment Fund (PIF) is ramping up its investments in the car industry with a focus on the luxury and electric vehicles markets.