April 20, 2023
From $150 billion of assets in 2015, Public Investment Fund (PIF) now manage around $650 billion of assets, the fund governor said. Yasir Al-Rumayyan said the fund wants to increase the value of its assets to $1 trillion in 2025 and between $2-3 trillion by 2030. Al-Rumayyan indicated that the fund is the world’s largest investor in renewable energy and green hydrogen. It works within the national objectives and the Saudi climate action, which seeks to reach net zero emissions by 2050. Citing the International Monetary Fund’s forecasts, he said the Saudi economy was expected to grow by 7.5%, the highest growth among developing countries.
Read the original article in Zawya: Saudi’s Public Investment Fund manages $650 billion in assets – Governor