Saudi PIF’s assets estimated at $300bln: IIF

      Published on Wednesday, 12 June , 2019      666 Views     
Saudi PIF’s assets estimated at $300bln: IIF

Saudi Arabia is on track to hit a target of increasing its Public Investment Fund (PIF) in size to $400 billion in 2020,

with the Institute of International Finance (IIF) estimating that it currently has about $300 billion worth of assets.

In a note published on Thursday, IIF said that a key part of Saudi Arabia’s Vision 2030 economic diversification plan involved “the transformation of the PIF from a state holding company into one of the world’s largest sovereign investment vehicles”, with a proposal to grow assets to $400 billion by 2020 and $2 trillion by 2030.

“We now estimate PIF’s assets at about $300 billion, of which one-fourth are invested abroad,” it said, citing stakes the fund has taken in Softbank’s Vision Fund,

electric car maker Tesla, ride hailing firm Uber, Blackstone’s infrastructure funds and investment funds in Russia and Egypt.

Category Business | 2019/06/12 latest update at 9:00 AM
Source : Zawya | Photocredit : Google
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