Stay informed and spot emerging risks and opportunities with independent global reporting, expert These investments maximize the value of PIF portfolio companies and achieve long-term sustainable returns. CBAs Clifton said Britains policymakers would be watching the wages data closely for further confirmation that private sector income growth is slowing. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. 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Public Investment Fund of Saudi Arabia (PIF) is a Sovereign Wealth Fund located in Riyadh Saudi Arabia, Middle East, and was founded in 1971. In November 2022, PIF Governor Yasir Al-Rumayyan said that PIF is committed to creating more job opportunities in the future. Sign In 0 04 Our latest updates Latest News The Public Investment Fund Achievements See here for a complete list of exchanges and delays. It showed an $828 million stake in BP, a $484 million stake in Royal Dutch Shell, and a $222 million stake in Total. April 16, 2023 10:26. 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. Gold prices fell to nearly a two-week low on Monday after data showed manufacturing activity in New York state increased for the first time in five months, and confidence among USsingle-family homebuilders improved for a fourth straight month in April. [7], In July 2014, the Council of Ministers granted the PIF authority to fund new companies inside and outside the Kingdom, either independently or in cooperation with the public and private sectors, without the council's prior approval. 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.. 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. Following on the success of its VRP 2018-2020, the . [74] After the March 2023 United States bank failures had gripped the global banking sector, Saudi National Bank chairman Ammar al-Khudair publicly stated on 15 March 2023 that they would "absolutely not" supply Credit Suisse with more capital (referencing the regulatory requirements for 10%+ shareholders as the reason why), which then promptly caused the share price of Credit Suisse to drop 25% more. Public Investment Fund is based out of Riyadh. Particular importance is attached to the issues of mutual access of products to the markets of both countries. and a top 10 holdings concentration of 66.62%. The Public Investment Fund ( PIF; Arabic: ) is the sovereign wealth fund of Saudi Arabia. Public Investment Fund's largest holding is Lucid Group Inc with shares held of 1,109,006,595. 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. Our Standards: The Thomson Reuters Trust Principles. Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. 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. 1 auto market, G7 puts focus on push for global fossil fuel phaseout deal, J&J lifts profit forecast as cancer drugs, Stelara buoy pharma unit, Exclusive: Airbus advises airlines of 2024 delays, keeps output goals, AstraZeneca confident new COVID antibody protects against known variants. After years of travel restrictions and quarantines, Chinese people in recent months have finally returned to restaurants and started to move around more freely, giving much-needed stimulus to services. RIYADH: A 4 percent stake in energy giant Saudi Aramco has been transferred from state ownership to Sanabil Investments, the investment arm of the Kingdoms sovereign wealth fund, said Crown Prince Mohammed bin Salman on Sunday. 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,. RIYADH: A 4 percent stake in energy giant Saudi Aramco has been transferred from state ownership to Sanabil Investments, the investment arm of the Kingdom . Although Mohammad bin Salman is the chairman of PIF, PIF has denied "any suggestion that the decision-making or conduct of the board of PIF is unduly influenced (or influenced in any way contrary to the principles of good governance) by the crown prince." [5][6], The Saudi Arabian Public Investment Fund (PIF) was established by the King Faisal bin Abdulaziz Al Saud in 1971[7] by Royal Decree M/24[8] with the stated intent to provide financing support for projects of strategic significance to the national economy. There was an error. The transfer will solidify PIFs strong financial position and credit rating, the crown prince's statement said of the fund that is responsible for the bulk of projects aimed at transforming the Saudi economy to reduce its reliance on oil revenue. The PIF's largest new holdings included a $714 million stake in Boeing, $522 million stakes in both Citigroup and Facebook, and a $514 million stake in Marriott. [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 cost savings, you can change your plan at any time online in the Settings & Account section. [3] The wealth fund has been controlled by Crown Prince Mohammed bin Salman, Saudi Arabia's de facto ruler since 2015. You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many users needs. 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 . For a full comparison of Standard and Premium Digital, click here. (File). Meanwhile, Aramco, in a statement to Tadawul said that the transfer will not affect Aramcos total number of issued shares, as the shares transferred will rank equally alongside other existing ordinary shares in the firm. Follow @arabnews. 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. In support of its considerable domestic investments, the Saudi leadership aims to transform the PIF into a 'global investment powerhouse' by pledging to invest 25% of its assets in international portfolios, split between the International Diversified Pool and International Strategic Investment Pool (PIF, Citation 2017a, p. 21). The (COVID-19 pandemic) interrupted those discussions, so I would very much hope that our colleagues will pick up on this. Earlier this month, in its first disclosure of investments, Sanabil Investments revealed its ties to more than 50 venture capital and private equity firms including Blackstone, KKR & Co., Andreessen Horowitz, General Atlantic, Hellman & Friedman and Platinum Equity. or to simply have an email sent to you whenever we receive a new Yasir Al-Rumayyan also admitted that of the $35 billion spent by the PIF as part of this activity, it soon rose to $49 billion when markets rose. The Biden administration this year has sold 26 million barrels of crude from the reserve through release mandated by Congress in previous years. 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. It also revealed stakes worth between $480 million and $500 million in Disney, Cisco, and Suncor Energy. ? The latest filing also confirmed reports that the fund invested in a range of European oil companies last quarter. Our Standards: The Thomson Reuters Trust Principles. The Kingdom didn't have diplomatic relations with Israel and was neither a part of the Abraham Accords. [47] This will be the first known time that money from the Saudi's sovereign wealth fund will go to Israel. Aiming to provide unmatched, innovative, and engineered solutions to assure low-risk, sustainable, and cost-efficient business projects. It also acquired shares in JPMorgan (JPM.N) and BlackRock (BLK.N), buying 3.9 million shares and 741,693 shares respectively. A full list of rating actions is at the end of this rating action commentary. Riyadh-based Sanabil is an investment company that commits approximately $3 billion a year to private transactions, its website says. Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. However, its aggressive spending is surprising as depressed oil prices have hammered the kingdom's finances in recent months. "[55] Hatice Cengiz, the fiance of Saudi journalist Jamal Khashoggi, who was murdered by operatives of the Saudi regime, urged the Premier League to block PIF's takeover. De facto ruler since 2015 480 million and $ 500 million in Disney, Cisco, and business... 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