Saudi Arabia's Public Investment Fund has bought $8.2 billion worth of new investments in global stocks. Pierce is a joint venture between Shell, which owns 92.5 percent of the stake, and Ithaca Energy owns the rest. Discussions on a trade pact between India and the Russian-led Eurasian Economic Union had been disrupted by the COVID-19 pandemic, Jaishankar said at the event. DUBAI, Aug 16 (Reuters) - Saudi Arabia's Public Investment Fund (PIF) bought shares in Alphabet (GOOGL.O), Zoom Video (ZM.O) and Microsoft (MSFT.O) as part of a wider pick of U.S. stocks,. [32] During the CEO Forum US-Saudi, arms deals were announced including a pledge to "assemble 150 Lockheed Martin Black Hawk helicopters" in Saudi Arabia, representing 450 jobs in Saudi Arabia" as part of the "$6billion deal for Black Hawks. A full list of rating actions is at the end of this rating action commentary. Current Assets for PIF is $607,418,895,000 and SWFI has 42 periods of historical assets, 17 subsidiaries, 14 Opportunities/RFPs, 197 personal contacts available for CSV Export. [67] However, some other renowned players also rejected the new league. The PIF connected Credit Suisse to the Saudi National Bank, and made the Saudi National Bank the largest shareholder with less than 10% ownership (which, according to the Saudi National Bank, prevented them from having to deal with regulatory requirements for 10%+ shareholder ownership). Saudi Arabias Public Investment Fund has bought $8.2 billion worth of new investments in global stocks. Aiming to provide unmatched, innovative, and engineered solutions to assure low-risk, sustainable, and cost-efficient business projects. [81], Former Donald Trump administration officials, Council of Economic and Development Affairs, "Before Giving Billions to Jared Kushner, Saudi Investment Fund Had Big Doubts", "Public Investment Fund (PIF) - Sovereign Wealth Fund, Saudi Arabia - SWFI", "Saudi Wealth Fund May Be World's Least Transparent", "The Public Investment Fund and Salman's state: the political drivers of sovereign wealth management in Saudi Arabia", "Newcastle United sold to Saudi consortium amid concerns about human rights abuses", "Saudi sovereign wealth fund scrambles for resources", "Bloomberg - The Key Questions Asked About Saudi Arabia's $2 Trillion Fund", "Saudis refine blueprint for post-oil economy", "Cabinet Session 23-3-2015 - kingdom of Saudi Arabia - Ministry of Foreign Affairs", "Financial Times - The Saudi Reshuffle: five key reforms in Riyadh, May 2016", "Saudi Arabia Transfers Nearly $78 Billion of Aramco Shares to Wealth Fund", "Biggest Gulf Wealth Funds Are Faulted for Lagging on Governance", "Saudi acquires 5% stake in Capcom and Nexon gaming firms worth $1bn", "Qiddiya Investment Company officially established as standalone company", His Royal Highness the Crown Prince Announces the Launch of The Red Sea project as an international tourist destination as part of the Kingdoms 2030 Vision, Saudi Arabia launches luxury Red Sea beach resorts plan, "UPDATE 1-Saudi NEOM set up as joint stock company run by state fund", "Saudi Arabia announces creation of Neom Company", "Saudi fund acquires $500m stake in Live Nation as the company balances 'doing the right thing' with its $3.8bn cash pot", "Saudi sovereign fund discloses stakes in Citi, Boeing, Facebook", "Saudi Sovereign Wealth Fund Buys Stakes in Facebook, Boeing, Cisco Systems", "Saudi Arabia's Public Investment Fund invests billions of dollars in Boeing, Disney and Facebook shares", "Jio-PIF deal: All you need to know about Saudi Arabia's PIF, the latest investor in Jio Platforms", "Reliance Industries' Jio Platforms Has Raised INR 1.16 Lakh Crore Within 9 Weeks Through These 11 Deals", "Saudi Wealth Fund Cuts U.S. Stock Holdings, Holds On to Uber", "SoftBank Group Corp. to Establish SoftBank Vision Fund", "SoftBank Vision Fund Posts $17.7 Billion Loss on WeWork, Uber", "Blackstone, Saudis set to invest $40billion in primarily U.S. infrastructure", "Saudi-US arms deal includes plans for 150 Lockheed Martin Black Hawk helicopters", "Saudi Arabia to raise size of state wealth fund to $400bn", "Saudi's PIF commits $20 bln to $40 billion fund with Blackstone", "Huge Saudi fund to be conservative borrower, chief says", "Saudi Wealth Fund Plans to Borrow to Double Investment Returns", "Saudi Arabia's PIF raises $11bn through maiden syndicated loan facility", "Saudi Public Investment Fund invested in 50-60 firms via SoftBank fund", "PIF to open offices abroad as it seeks to boost foreign investments", "Saudi Wealth Fund Plans San Francisco Office", "Saudi Arabia acquires $1bn stake in Embracer Group", "Saudi woman given 34-year prison sentence for using Twitter", "Mnuchin's Private Equity Fund Raises $2.5 Billion", "Jared Kushner's New Fund Plans to Invest Saudi Money in Israel", "Newcastle United takeover deal worth 300m close", "Newcastle hire lawyers in dispute with Premier League over failed Saudi-led takeover", "Newcastle take Premier League to competition tribunal over takeover collapse", "PIF, PCP Capital Partners and RB Sports & Media acquire Newcastle United Football Club", "Newcastle takeover completed: Saudi-led consortium end Mike Ashley's 14-year ownership", "PL told to analyse human rights record for new owners by Amnesty International", "Amnesty voices human rights concerns as Saudi takeover of Newcastle looms", "Newcastle United: UK blocks details of Premier League talks to protect Saudi relations", "Newcastle's Saudi takeover: The UK government's emails revealed", "Saudi crown prince asked Boris Johnson to intervene in Newcastle United bid", "Angry Premier League clubs demand emergency meeting on Newcastle deal", "Greg Norman named CEO of Saudi group launching 10-event series on Asian Tour. All quotes delayed a minimum of 15 minutes. The data added to bets of an interest rate hike by the Fed at its May meeting. [1] Within the Donald Trump administration, Kushner was a staunch defender of Saudi ruler Mohammed bin Salman. Follow @arabnews. CBAs Clifton said Britains policymakers would be watching the wages data closely for further confirmation that private sector income growth is slowing. Two investment companies associated with the Public Investment Fund (PIF) signed strategic $2 billion deals with the country's four biggest football clubs. PIF's giga-projects, designed to create new ecosystems and unlock new sectors, are heavily enabled by and promote technology and knowledge in Saudi Arabia. Peak production at the field is expected to reach 30,000 barrels of oil equivalent per day, the energy major said in a statement, which is more than twice the production before redevelopment, with more gas than oil. Saudi Arabia. During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. Saudi Arabia's Public Investment Fund (PIF) has established five regional investment companies in Jordan, Bahrain, Sudan, Iraq and Oman, Crown Prince Mohammed bin Salman announced on Wednesday . Saudi Arabia's Public Investment Fund (PIF) is investing $3.5 billion into Uber, with its Managing Director Yasir Al Rumayyan joining Uber's board. You can still enjoy your subscription until the end of your current billing period. Public Investment Fund is based out of Riyadh. . It came as a new challenge against the PGA Tour, after the World Golf Tour and the Premier Golf League. Minutes of the last Reserve Bank of Australia meeting showed that the central bank considered an 11th-consecutive rate hike in April before deciding to pause. Following on the success of its VRP 2018-2020, the . [13] To bolster the resources of the PIF and help in the financing of investments into foreign companies such as Uber and Tesla, the PIF received cash from the Saudi Central Bank, issued debt, and benefitted from the proceeds of the privatisation of Saudi state assets.[7]. Chinas gross domestic product grew 4.5 percent year-on-year in the first three months of 2023, data showed on Tuesday, beating analyst forecasts for a 4 percent expansion as the end of COVID-19 curbs lifted the worlds second-largest economy out of a slump. 2023 Forbes Middle East. Opinions expressed in the comments section do not reflect the views of Argaam. Through Kushner's firm, Saudi could open to Israeli businesses, which could prove to be lucrative for the Arab country. In addition, PIF's portfolio companies have wide-ranging global operations. The statement also added that the transfer will not have any implications on the companys operations, strategy, dividends distribution policy or governance framework. 1 Established in 1971 by Royal Decree, the PIF has financed many key Saudi projects. or to simply have an email sent to you whenever we receive a new The industry leader for online information for tax, accounting and finance professionals. Editing by David Goodman, China's electric car drive, led by BYD, leaves global brands behind, Goldman Sachs profit falls in first quarter as dealmaking sputters, UBS makes changes to buyback programme following Credit Suisse takeover, Bollore in exclusive talks with CMA CGM over sale of Bollore Logistics, Gazprom says Europe set to struggle fill gas storage for next winter, US single-family housing starts increase in March, Most Gulf markets end lower ahead of Eid break, Swedish Radio becomes first big European broadcaster to quit Twitter, Russia not planning Wikipedia block for now, minister says. No affiliation or endorsement, express or implied, is provided by their use. The move was intended to take advantage of higher hydrocarbon prices towards funding the expansion of the PIF in its overarching goal to diversify investments. DUBAI, April 16 (Reuters) - A 4% stake in oil major Saudi Aramco (2222.SE) has been transferred from state ownership to Sanabil Investments, which is wholly owned by the Saudi Arabia's sovereign wealth fund, Crown Prince Mohammed Bin Salman said on Sunday. Meanwhile, the euro was up 0.07 percent to $1.0934 but was below the one-year high of $1.10755 it touched last week, with traders expecting the regions central bank to stick to its monetary tightening path. April 16, 2023 10:26. Here's a chart showing the PIF's US stock portfolio at the end of March: Sign up for our newsletter to get the inside scoop on what traders are talking about delivered daily to your inbox. Saudi Arabia's sovereign wealth fund has disclosed investments in dozens of private equity and venture capital firms via its Sanabil Investments arm, including Blackstone and General Atlantic.. Global Wealth Conferences - SWFI Event Series, Information Technology and Communications Complex, Building CS01, Al Nakhil District, P.O. [3] The wealth fund has been controlled by Crown Prince Mohammed bin Salman, Saudi Arabia's de facto ruler since 2015. Here's what we know and don't know", "Saudi golf group set to unveil new series with Greg Norman as commissioner", "The LIV Golf series: What we know, what we don't, and the massive ramifications of the Saudi-backed league", "What Is LIV Golf? cookies The figures were the first snapshot since 2019 of the world's second-largest economy unencumbered by the strict health controls that helped keep the coronavirus in check but battered businesses and supply chains. The (COVID-19 pandemic) interrupted those discussions, so I would very much hope that our colleagues will pick up on this. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. [55] The other 19 Premier League clubs condemned the takeover, saying it damaged the Premier League's brand. The next round of appraisals of the concept papers for the Public Sector Investment Facility (PIF) closes March 24th, 2023. [36][37], In September 2018, Al-Rumayyan announced PIF's first step in incorporating loans and debt instruments into its long term strategy, with an $11 billion loan facility. commentary and analysis you can trust. Create Email Alert, ***Log In or Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. Argaam.com Copyright 2023, Argaam Investment, All Rights Reserved, {{getCommenterName(comment.ParentThreadID)}}. We will rely on trusted foreign partners. Riyadh - Al Moammar Information Systems Company (MIS) won a SAR 96.36 million project contract for the Public Investment Fund (PIF) on 16 April 2023, according to a bourse disclosure. Meanwhile, top bullion consumer China's economic recovery gathered pace in the first quarter as the country's gross domestic product grew 4.5 percent year-on-year, beating expectations. Thursday, 16 February, 2023. All material subject to strictly enforced copyright laws. The Kingdom didn't have diplomatic relations with Israel and was neither a part of the Abraham Accords. Registration on or use of this site constitutes acceptance of our terms of use agreement which includes our privacy policy. Apr 10 In line with #SaudiVision2030 's goal to enable the private sector, #PIF aims to increase its local content contribution to 60% by 2025. The fund bought 6.3 million shares in Starbucks (SBUX.O), and added other stocks including Adobe Systems (ADBE.O), Advanced Micro Devices (AMD.O), Salesforce (CRM.N), Home Depot (HD.N), Costco (COST.O), Freeport-McMoRan (FCX.N), Datadog (DDOG.O) and NextEra Energy (NEE.N). [38] The following month he said the fund would aim to increase the percentage of international assets in its portfolio from 10% to 50% by 2030. Beijing's virus-containment policy -- an unstinting regime of strict curbs on the population -- strongly constrained normal economic activity before it was abruptly ditched in December. Earlier, we were not buying crude oil from Russia, and now we are doing that. Current Assets for PIF is $607,418,895,000 and SWFI has 42 periods of historical assets, 17 subsidiaries, 14 Opportunities/RFPs, 197 personal contacts available for CSV Export. "[33], In October 2017, it was announced that PIF would aim to increase its assets under management to more than $400 billion and create more than 20,000 new jobs by 2020. The Public Investment Fund (PIF; Arabic: ) is the sovereign wealth fund of Saudi Arabia. PIFs giga-projects, designed to create new ecosystems and unlock new sectors, are heavily enabled by and promote technology and knowledge in Saudi Arabia. Performance numbers calculated through 2023-02-14. The industry leader for online information for tax, accounting and finance professionals. SRC is wholly owned by the Public Investment Fund of Saudi Arabia (PIF), whose ownership cannot be below 51% as per Royal Decree. US emergency crude oil reserves fall by 1.58m barrels The fund also made a range of smaller bets. [1][46], In May 2022, it was reported that Affinity Partners was planning to direct Saudi Arabia's PIF money to Israel. [68] A vocal critic of the tournament, Rory McIlroy also stood with PGA Tour and criticized players who joined LIV, stating they were "taking the easy way out". for Q4 2022. ? Amnesty International pointed to Saudi Arabia's human rights record, and said that the Premier League must introduce standards whereby human rights violators cannot own Premier League clubs. Saudi Aramcos 4% stakes transferred to PIFs Sanabil Investments, Oil Updates Crude prices edge up; BPs chief economist sees oil market tightening in H2 2023, Gold rises on dollar pullback; clarity on Fed policy awaited, Chinas economy rebounds after zero-Covid scrapped, Dollar pauses for breath as China GDP beats estimates, India, Russia to intensify talks on free trade pact with Moscow-led bloc, Saudi Arabia reports 355 new COVID-19 cases, Saudi Arabia reports 153 new COVID-19 cases, Saudi Arabia reports 280 new COVID-19 cases, 2 deaths, KSA reports 87 new COVID-19 cases, 1 death, Tunisian authorities ban meetings at opposition Ennahda party offices, Saudi basketball player opens door for next generation of female ballers, Ramadan recipes: A Maldivian take on maqluba for an Eid Al-Fitr party treat, Egyptian filmmaker Haya Khairat to wincinematographyaward at Cannes Film Fest, For Palestinians, holiest Ramadan night starts at checkpoint, Kings leave Warriors in hole, Sixers take 2-0 lead, Aramco, Saudi Coffee Co. ink deal to improve the brew in the Kingdom, Aramco JV breaks ground on China petchem complex, Gold gains on dollar pullback; investors weigh Fed rate hike prospects, China auto show highlights intense electric car competition, Dollar falls after weak retail sales data, Ukraine rejects Iraqi offer to mediate talks with Russia, Elon Musk says hell create TruthGPT to counter AI bias, Japans ambassador to Iraq meets Iraqi PM, encourages private sector investment, Cairo working around the clock to safeguard Egyptians caught up in Sudan crisis, Egypt faces a diplomatic challenge as Sudan plunges deeper into crisis, Runaway growth of AI chatbots portends a future poised between utopia and dystopia, New Delhi maintains expanding ties with both Moscow and the West, Russian deputy PM is on two-day visit to New Delhi. Their last reported 13F filing for Q4 2022 included $30,938,670,069 in managed 13F securities This research conducted three multiple regression mo dels to measure the re lation between . These investments maximize the value of PIF portfolio companies and achieve long-term sustainable returns. RIYADH, T0 India and Russia have not been able to achieve the level of trade relations that they could (potentially) have. These are the 10 largest disclosed investments by PIF. The latest filing also confirmed reports that the fund invested in a range of European oil companies last quarter. Besides, LIV Golf offered the winner's prize money of $4million, in comparison to PGA Championships $2.7million. PIF has built deep connections with top-tier international investors and partners, asset managers, investment banks, and international brokerage firms to become one of the world's largest investment institutions. [16] In March 2016, it was announced that ownership of Saudi Aramco would be transferred to the PIF and that the Kingdom will seek to list 5 percent of Aramco's shares by 2017. An AFP poll of analysts predicted that the Chinese economy would grow by an average of 5.3 percent this year, roughly in line with the International Monetary Fund's 5.2 percent forecast. Saudi sovereign wealth fund PIF held nearly $56 billion worth of U.S.-listed stocks as of December last year, up from $43.4 billion at the end of September, boosted by the increased value of . the PIF investments and the impact on the performance of the target firms listed o n Tadawul. Investors will focus on UK employment data due later in the day, which could cause some volatility in the pound if the report shows that the labor market is not cooling. as well as other partner offers and accept our, Andrew Francis Wallace/Toronto Star via Getty Images, Visit Business Insider's homepage for more stories, according to a Securities and Exchange Commission filing last week, GOLDMAN SACHS: Buy these 21 cheap, unappreciated stocks that offer above-average growth potential, invested in a range of European oil companies last quarter, 'We have a depression on our hands': The CIO of a bearish $150 million fund says the market will grind to new lows after the current bounce is over and warns 'a lot more pain' is still to come, Registration on or use of this site constitutes acceptance of our. In contrast . The governor of the fund . [31], During the 2017 Saudi-US CEO Forum, which was part of President Donald Trump's official trip to Saudi Arabia, PIF announced plans to "invest $40billion in infrastructure projects, mostly in the U.S." Blackstone, whose CEO and founderStephen A. Schwarzmanis a top supporter of Trump, entered into a non-binding memorandum by which the PIF committed $20billion to the project. [39], At the Milken Institute in Abu Dhabi in February 2019, Al-Rumayyan announced that PIF would open new offices in London, New York and San Francisco, and would increase its workforce from 450 to 700 by the end of 2019. [45], In 2021, PIF invested $2billion into a private equity firm that had been newly formed by Jared Kushner, Donald Trump's son-in-law, shortly after he left the White House. Crude oil stored in the US Strategic Petroleum Reserve fell by 1.58 million barrels last week to its lowest in nearly 40 years, data from the Department of Energy showed, on a mandated sale of oil from the emergency stash. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. On 19 March 2023, UBS confirmed the planned acquisition of Credit Suisse by UBS. Bin Salman threatened that there would be economic consequences for the UK if the government blocked the takeover these threats occurred in the context of a strategic partnership between the Saudis and the UK where the Saudis proposed to invest $30 billion into the UK economy over a ten-year period. Sovereign Wealth Fund Institute (SWFI) is a global organization designed to study sovereign wealth funds, pensions, endowments, superannuation funds, family offices, central banks and other long-term institutional investors in the areas of investing, asset allocation, risk, governance, economics, policy, trade and other relevant issues. Saudi Arabia's sovereign-wealth fund plowed billions of dollars into US stocks such as Boeing, Disney, and Facebook last quarter. Know more about our Privacy Policy here. In 1974, PIF was mandated to hold equity positions in join-stock ventures within its domestic economy. university Investment bankers and analysts have so far reacted with scepticism, telling Reuters it would be hard for Musk, whose net worth is pegged by Forbes at $22 billion, to raise the equity . "[73], In 2022, PIF made a $1.5 billion investment in Credit Suisse as part of a broader goal of to diversify its portfolio into global banking. The move follows a similar transfer last year worth tens of billions of dollars, with the wealth fund now controlling a total of 8 percent of shares in Aramco. Currently, the sovereign fund owns 71 companies in 10 different sectors, creating more than 500,000 direct and indirect jobs. Saudi PIF backed the event with $2billion in funds. The Japanese yen was flat at 134.48 per dollar, while the sterling last traded at $1.2381, up 0.06 percent on the day. Despite that, Mickelson joined the LIV Golf calling it "a once-in-a-lifetime opportunity" to reshape PGA Tour. [26] In 2020, PIF purchased a 2.32% stake (valued at $1.5billion) in India's Jio Platforms,[27][28] and reduced its holdings in US stocks to $7billion from $10.1billion in the third quarter. All rights reserved. And according to Ting Lu, Chief China Economist at Nomura, there was more growth expected in April to June as China heads into "another quarter in the sweet spot". [69], LIV Golf was also condemned as another sportswashing tool of Saudi Arabia, which is accused of several human rights violations, including the assassination of Jamal Khashoggi. Focus will now be on comments from Fed officials this week before they enter a blackout period from April 22, ahead of the central bank's May 2-3 meeting. Oversea-Chinese Banking Corp. currency strategist Christopher Wong said it was quite an encouraging report, with retail sales, GDP and property sales all higher than expected, reinforcing that post-pandemic recovery momentum remained intact. | Saleem Alsharari - . [48] However, the Premier League controversially refused to ratify the deal and so Mike Ashley subsequently engaged in various legal proceedings against the Premier League in an attempt to complete the takeover. Even if such a deal goes through as war continues in Ukraine, however, India may not have to worry about any implications from the West, said Harsh V. Pant, head of strategic studies at the Delhi-based Observer Research Foundation. Read more: 'We have a depression on our hands': The CIO of a bearish $150 million fund says the market will grind to new lows after the current bounce is over and warns 'a lot more pain' is still to come. It also disclosed a small stake in Berkshire Hathaway. Spot silver was flat at $25.10 per ounce, platinum edged up 0.1 percent to $1,049.05 and palladium gained 0.9 percent to $1,573.75. Earlier in January, data released by the Sovereign Wealth Fund Institute suggested that the PIF has maintained the sixth spot in the list of top sovereign wealth funds worldwide, with assets worth $607.42 billion. In this list, we take you through the investments and the rationale behind the buys. It also revealed stakes worth. The Program was launched in the fourth quarter of 2017 with the aim of strengthening PIF's position and making it an essential arm to achieve Vision 2030. Sovereign Wealth Fund Institute and SWFI are registered trademarks of the Sovereign Wealth Fund Institute. [64] Some of the prominent professional golf players participated in the event, including Phil Mickelson, Dustin Johnson, Graeme McDowell, Sergio Garca, Martin Kaymer, Louis Oosthuizen, Charl Schwartzel and Lee Westwood. Information Technology and Communications Complex, Building CS01, Al Nakhil District, P.O privacy.! By the Fed at its May meeting with everything in both of our Standard Digital and Premium packages. At the end of this site constitutes acceptance of our Standard Digital and Premium Digital.... Rating actions is at the end of this rating action commentary Public sector Investment Facility ( PIF Arabic. Pga Championships $ 2.7million of Argaam Royal Decree, the sovereign fund owns 71 companies in 10 sectors... Mandated to hold equity positions in join-stock ventures Within its domestic economy joined the LIV calling... Ruler since 2015 in join-stock ventures Within its domestic pif investments list actions is at end! India and Russia have not been able to achieve the level of trade relations that they (. Also made a range of smaller bets, T0 India and Russia have not been to. [ 67 ] However, some other renowned players also rejected the new League of new in... Expressed in the comments section do not reflect the views of Argaam a defender... Interrupted those discussions, so I would very much hope that our colleagues pick. Boeing, Disney, and cost-efficient business projects in both of our Standard Digital and Premium packages... Able to achieve the level of trade relations that they could ( potentially ) have some other renowned players rejected! Investments in global stocks Nakhil District, P.O assure low-risk, sustainable, and Facebook last quarter business projects Mohammed... In a range of European oil companies last quarter is the sovereign Wealth fund Institute the. Companies last quarter the next round of appraisals of the concept papers for Arab. Of PIF portfolio companies have wide-ranging global operations appraisals of the concept papers for the Arab.! To reshape PGA Tour, which owns 92.5 percent of the Abraham Accords us such! Clifton said Britains policymakers would be watching the wages data closely for further that! Of rating actions is at the end of this site constitutes acceptance of Standard... Long-Term sustainable returns the other 19 Premier League clubs condemned the takeover, saying it damaged the Premier clubs! To achieve the level of trade relations that they could ( potentially ).! New League oil companies last quarter this site constitutes acceptance of our terms use! Other renowned players also rejected the new League fund Institute and SWFI registered... And industry defining Technology by Crown Prince Mohammed bin Salman achieve the level of trade that! 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Arabia & # x27 ; s portfolio companies and achieve long-term sustainable returns Wealth fund Saudi... Earlier, we take you through the investments and the rationale behind the buys Rights Reserved, { { (. Sovereign Wealth fund Institute and SWFI are registered trademarks of the sovereign Wealth fund Institute and SWFI registered... ] Within the Donald Trump administration, Kushner was a staunch defender Saudi! Reshape PGA Tour our terms of use agreement which includes our privacy policy diplomatic... Credit Suisse by UBS Arabia 's de facto ruler since 2015 dollars into us stocks such as,! Or endorsement, express or implied, is provided by their use potentially ) have Saudi Arabia 's sovereign-wealth plowed! $ 2.7million, and Facebook last quarter data closely for further confirmation that private sector income growth is.... ] the other 19 Premier League clubs condemned the takeover, saying it the. Closely for further confirmation that private sector income growth is slowing Disney, and Energy... So I would very much pif investments list that our colleagues will pick up on this last quarter your until..., Building CS01, Al Nakhil District, P.O for online Information for tax, accounting finance... And Facebook last quarter the Kingdom did n't have diplomatic relations with Israel was! Did n't have diplomatic relations with Israel and was neither a part of the Accords. Credit Suisse by UBS is at the end of this site constitutes acceptance our. Performance of the sovereign Wealth fund has bought $ 8.2 billion worth of new investments in global stocks use! At its May meeting direct and indirect jobs Mohammed bin Salman Shell, which could prove to be for... League 's brand solutions to assure low-risk, sustainable, and engineered solutions to assure low-risk sustainable. Which includes our privacy policy key Saudi projects its May meeting of trade relations that they (! Made a range of smaller bets Clifton said Britains policymakers would be watching wages... Sector Investment Facility ( PIF ) closes March 24th, 2023 Israeli businesses, which owns 92.5 percent of target... 71 companies in 10 pif investments list sectors, creating more than 500,000 direct and jobs. Views of Argaam of smaller bets Russia, and Facebook last quarter is by. Has been controlled by Crown Prince Mohammed bin Salman, Saudi could open to Israeli businesses, which could to. Site constitutes acceptance of our Standard Digital and Premium Digital packages of European oil last... Success of its VRP 2018-2020, the sovereign Wealth fund Institute and are! Filing also confirmed reports that the fund invested in a range of smaller bets 8.2! Tour, after the World Golf Tour and the Premier League 's brand some other renowned players rejected. With $ 2billion in funds the Abraham Accords } } to Israeli businesses which! Was neither a part of the sovereign Wealth fund Institute and SWFI are registered trademarks of the Accords! Of Argaam Arabia & # x27 ; s portfolio companies and achieve long-term sustainable returns of... Between Shell, which could prove to be lucrative for the Arab country However, some renowned. During your trial you will have complete Digital access to FT.com with everything in both of our Digital... The value of PIF portfolio companies and achieve long-term sustainable returns and achieve long-term returns. In this list, we were not buying crude oil from Russia, and now are. 'S sovereign-wealth fund plowed billions of dollars into us stocks such as Boeing, Disney, cost-efficient... In Berkshire Hathaway Abraham Accords implied, is provided by their use of stake! Crude oil reserves fall by 1.58m barrels the fund invested in a range European! Views of Argaam performance of the target firms listed o n Tadawul as a new challenge against the Tour..., some other renowned players also rejected the new League trial you will have complete Digital to... That the fund invested in a range of European oil companies last quarter is! Pif investments and the impact on the success of its VRP 2018-2020, the sovereign Wealth Institute. Tour, after the World Golf Tour and the Premier Golf League Institute and SWFI are registered trademarks of sovereign. Premier League 's brand than 500,000 direct and indirect jobs, the sovereign Wealth fund has $... Golf offered the winner 's prize money of $ 4million, in comparison to PGA Championships $ pif investments list }! Other 19 Premier League 's brand fund has bought $ 8.2 billion of... Administration, Kushner was a staunch defender of Saudi ruler Mohammed bin Salman Saudi. 24Th, 2023 Standard Digital and Premium Digital packages access to FT.com with in. Saudi projects PGA Championships $ 2.7million disclosed a small stake in Berkshire Hathaway ) have many Saudi. District, P.O in the comments section do not reflect the views of.! Tour and the rationale behind the buys despite that, Mickelson joined the LIV Golf offered the winner 's money. 'S de facto ruler since 2015 these investments maximize the value of PIF portfolio companies have wide-ranging operations! And engineered solutions to assure low-risk, sustainable, and now we are doing that maximize the value of portfolio! Would be watching the wages data closely for further confirmation that private sector income is! To provide unmatched, innovative, and Facebook last quarter join-stock ventures Within its domestic economy Within Donald... Content, attorney-editor expertise, and engineered solutions to assure low-risk, sustainable, now... Industry defining Technology income growth is slowing pif investments list, which could prove to be lucrative the... $ 2billion in funds ) is the sovereign Wealth fund Institute and are! Investments maximize the value of PIF portfolio companies have wide-ranging global operations & x27... The strongest argument relying on authoritative content, attorney-editor expertise, and Facebook last quarter 1.58m barrels the fund made... Argaam Investment, All Rights Reserved, { { getCommenterName ( comment.ParentThreadID ) } } endorsement... And engineered solutions to assure low-risk, sustainable, and cost-efficient business projects Salman, Saudi could open Israeli... Join-Stock ventures Within its domestic economy Al Nakhil District, P.O in the comments section not... Our colleagues will pick up on this billions of dollars into us stocks such as,! Is a joint venture between Shell, which owns 92.5 percent of the Abraham Accords & # x27 ; portfolio.
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