June 10, 2021
The Sovereign Wealth Fund Institute’s new “league table” now places Saudi Arabia’s Public Investment Fund (PIF) as the seventh-largest SWF in the world. With its AUM already around $430 billion the PIF is on the right trajectory to reach its stated ambition of holding over $2 trillion in assets under management by 2030.
While the Kuwait Investment Authority (KIA) started in the 1950s and the Abu Dhabi Investment Authority (ADIA) in 1976, the PIF started from just 2015 in its current form but is already proving to be a dynamic global investor, taking stakes in companies around the world and actively trading them. With a key role as an agent of economic change, the PIF is also at the cutting edge of the Vision 2030 strategy to diversify Saudi’s economy away from oil dependency and reliance on government spending.
Read the original article in the Arab News: Saudi PIF continues its climb up the SWF ladder