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Phillip Cornell on Saudi Arabia’s Public Investment Fund
Phillip Cornell on Saudi Arabia’s Public Investment Fund
Published: 2018/04/12
Channel: AtlanticCouncil
Saudi Sovereign Fund CEO on Investment Strategy
Saudi Sovereign Fund CEO on Investment Strategy
Published: 2017/10/24
Channel: Bloomberg Markets and Finance
Blackstone
Blackstone's CEO on Investing in PIF, Company Targets
Published: 2017/10/25
Channel: Bloomberg Markets and Finance
Top 5 Investments By The Saudi Public Investment Fund
Top 5 Investments By The Saudi Public Investment Fund
Published: 2017/10/29
Channel: Forbes Middle East
PIF
PIF's billion-dollar investments in Saudi Arabia
Published: 2017/11/02
Channel: Construction Week
PIF Graduate Development Program
PIF Graduate Development Program
Published: 2018/05/22
Channel: A L M O N T A G E
Saudi Arabia Kingdom to raise $2 trillion to fund diversification plan
Saudi Arabia Kingdom to raise $2 trillion to fund diversification plan
Published: 2016/04/27
Channel: CGTN Africa
Saudi Arabia
Saudi Arabia's Vision 2030 makes sense, says CEO of UAE sovereign wealth fund | Access Middle East
Published: 2017/12/29
Channel: CNBC Life
Saudi
Saudi's Sovergien Wealth Fund raises $11 billion loan
Published: 2018/09/17
Channel: CNBC Television
In collaboration with the Saudi Public Investment Fund; SoftBank to launch SoftBank Vision Fund
In collaboration with the Saudi Public Investment Fund; SoftBank to launch SoftBank Vision Fund
Published: 2016/10/14
Channel: إنفوجرافيك السعودية
WARNING the UBER NWO ahead as $3 5bn from Saudi Public Investment Fund is invested !
WARNING the UBER NWO ahead as $3 5bn from Saudi Public Investment Fund is invested !
Published: 2016/06/02
Channel: cips clips
Lucid Motors gets $1 billion investment from Saudi Fund
Lucid Motors gets $1 billion investment from Saudi Fund
Published: 2018/09/20
Channel: Travel Oke Oce
Uber raises $3.5 billion from Saudi Arabia’s Public Investment Fund
Uber raises $3.5 billion from Saudi Arabia’s Public Investment Fund
Published: 2016/06/01
Channel: News4YTB
The Saudi Public Investment Fund   Petrochemicals
The Saudi Public Investment Fund Petrochemicals
Published: 2015/04/15
Channel: Market Reports on Saudi Arabia
Blackstone CEO Says There Is Scope to Invest With PIF
Blackstone CEO Says There Is Scope to Invest With PIF
Published: 2017/10/25
Channel: Bloomberg Markets and Finance
Saudi Arabia hires bankers to run public investment fund - Kazakh TV
Saudi Arabia hires bankers to run public investment fund - Kazakh TV
Published: 2016/04/22
Channel: Kazakh TV
Uber Turns to Saudi Arabia for Biggest Investment Yet
Uber Turns to Saudi Arabia for Biggest Investment Yet
Published: 2016/06/03
Channel: Bloomberg
Saudi Arabia is Awful At Investing | Markets Are Dumb 4
Saudi Arabia is Awful At Investing | Markets Are Dumb 4
Published: 2018/08/21
Channel: MoFreedomFoundation
Saudi Arabia
Saudi Arabia's PIF Shows No Interest In Tesla
Published: 2018/08/12
Channel: Wochit News
Saudi Arabia
Saudi Arabia's sovereign wealth fund secures $11B loan
Published: 2018/09/17
Channel: Flash video
Blackstone, Saudi
Blackstone, Saudi's PIF plan $40 billion infrastructure investment fund
Published: 2017/05/22
Channel: Business ABC News
1,00,00,00,00,000 SR for Public Investment Fund KSA / King Salman
1,00,00,00,00,000 SR for Public Investment Fund KSA / King Salman
Published: 2016/11/30
Channel: SOCIAL LIFE
Saudi sovereign fund to invest $10b in Russia
Saudi sovereign fund to invest $10b in Russia
Published: 2015/07/08
Channel: Levant TV
Outdoor Relaxing with Pif
Outdoor Relaxing with Pif
Published: 2018/06/12
Channel: P.M. Seymour
Uber raises US$3.5b from Saudi investment fund
Uber raises US$3.5b from Saudi investment fund
Published: 2016/06/02
Channel: Newsday.com
Saudi Arabia
Saudi Arabia's Sovereign Wealth Fund Backs Uber With $3.5 Billion
Published: 2016/06/02
Channel: Wochit News
PIF Maaden SAR Aeron Branding
PIF Maaden SAR Aeron Branding
Published: 2014/04/28
Channel: Aeron Branding
PIF 7 dollars
PIF 7 dollars
Published: 2018/09/05
Channel: CBS4 Local
Saudi Arabia invests $3.5B in Uber
Saudi Arabia invests $3.5B in Uber
Published: 2016/06/02
Channel: Fox Business
What Saudi Arabia
What Saudi Arabia's $3.5B Uber Investment Means For Women
Published: 2016/06/02
Channel: Newsy
Saudi Arabia launches national state company for military industries (SAMI)
Saudi Arabia launches national state company for military industries (SAMI)
Published: 2017/05/18
Channel: Al Arabiya English
PiF 2017 Trailer Mashup
PiF 2017 Trailer Mashup
Published: 2017/09/25
Channel: Planet in Focus
IEN NOW: Saudi Arabia Could Dump Musk for ‘Tesla Killer’
IEN NOW: Saudi Arabia Could Dump Musk for ‘Tesla Killer’
Published: 2018/08/22
Channel: IEN Magazine
$100 million to invest in transport projects in Russia
$100 million to invest in transport projects in Russia
Published: 2017/10/06
Channel: CIC Saudi Arabia
PIF Build For Carlos
PIF Build For Carlos
Published: 2018/03/28
Channel: Roc Solid Foundation
PIF Mommies
PIF Mommies
Published: 2017/11/29
Channel: CBS4 Local
PIF Avila
PIF Avila's
Published: 2017/09/27
Channel: CBS4 Local
PIF Event-MCW overview -2018
PIF Event-MCW overview -2018
Published: 2017/10/13
Channel: PIF Capital
PIF SAYS GRACIAS
PIF SAYS GRACIAS
Published: 2018/09/06
Channel: Phil N Florence
Saudi Arabia investing big in tech
Saudi Arabia investing big in tech
Published: 2018/08/27
Channel: TRT World
Leo
Leo's PIF PKG
Published: 2018/06/12
Channel: CBS4 Local
Classic PIF: Handbag
Classic PIF: Handbag
Published: 2017/02/18
Channel: ukclassictelly
Pif - Turn Up On Em - Prod. By M7
Pif - Turn Up On Em - Prod. By M7
Published: 2018/08/29
Channel: Official Pif901
PIF MOBILE FOOD PANTRY
PIF MOBILE FOOD PANTRY
Published: 2018/09/13
Channel: Xavier Vazquez
PIF 50915
PIF 50915
Published: 2011/04/29
Channel: FoxEight Sales
PIF Winner
PIF Winner
Published: 2008/11/07
Channel: pifphoto
All about PIF
All about PIF
Published: 2016/10/04
Channel: Palestine Investment Fund PIF
PIF Build Ava
PIF Build Ava
Published: 2018/04/10
Channel: Roc Solid Foundation
PIF Shoncy  Williams SS
PIF Shoncy Williams SS
Published: 2017/11/08
Channel: Gordon Annuities
Public investment fund to establish recycling sector company
Public investment fund to establish recycling sector company
Published: 2017/10/16
Channel: NEW YORK TIME
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WIKIPEDIA ARTICLE

From Wikipedia, the free encyclopedia
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The Public Investment Fund (PIF) is a sovereign wealth fund owned by Saudi Arabia, founded for the purpose of investing funds on behalf of the Government of Saudi Arabia. The PIF has a portfolio made up of approximately 200 investments, of which around 20 are listed on Tadawul, the Saudi Stock Exchange.

Role[edit]

The Public Investment Fund invests in specific projects through equity, loans or guarantees, and allocations of public funds. The PIF also provides medium and long-term loans to the large-scale government and private industrial projects. The PIF invests in the fields of telecoms, aerospace, energy, green technologies, and security, seeking a focus on housing finance, renewable energy and information technology.[1]

History[edit]

The Saudi Arabian Public Investment Fund (PIF) was established in 1971 by Royal Decree M/24[2] to provide financing support for projects of strategic significance to the national economy.[3]

Since its inception, the PIF has been the Kingdom’s main investment arm, and has played an important role in the financing of vital projects in the Kingdom, including in the oil refining, fertilizer, petrochemical and electricity sectors. 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.[4]

PIF post-CEDA[edit]

In March 2015, oversight of PIF was moved from the Ministry of Finance to the Council of Economic and Development Affairs (CEDA). CEDA was created following the fluctuations in oil prices in 2014, in order to improve efficiency in the government’s decision-making apparatus. As part of this process, a new PIF was appointed, chaired by HRH the Crown Prince Mohammad bin Salman Al Saud.[5]

Following these changes, the Board is taking steps to refine its investment capabilities and enable the fund to manage a broader portfolio of current and new assets,[6] ensuring that it is aligned with the government’s Vision 2030.[7] The aim is to diversify government resources and the economy and to help unlock strategic sectors.[8]

Investment projects[edit]

Beginning in 2015 the PIF began making a number of high-profile investments, including acquiring a 38% stake in South Korea’s Posco Engineering & Construction Co. in July 2015[9] and establishing a sizable fund with French firms in October 2015. In June 2016, it was announced that the PIF was acquiring an approximate 5 percent stake in Uber for an investment of $3.5 billion, the largest ever single investment in the App-based ride sharing company. On 14 October 2016 Japan's SoftBank announced it had signed a memorandum of understanding with the PIF for the establishment of a London-based SoftBank Vision Fund which aims to invest up to $45 billion over five years in the tech sector.[10]

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. The PIF expects to become the largest sovereign wealth fund in the world with assets of $2 trillion.[11]

On May 20, 2017, during the Saudi-US CEO Forum which was part of President Donald Trump's official trip to Saudi Arabia, the Public Investment Fund (PIF) announced plans to "invest $40 billion in infrastructure projects, mostly in the U.S." Saudi Arabia, which is "working to diversify its economy" entered into business deals with General Electric, Lockheed Martin and The Blackstone Group. Blackstone, whose CEO and founder — Stephen A. Schwarzman — is a top supporter of President Donald Trump, entered into a non-binding memorandum by which the PIF committed $20 billion to the project.[12] 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 "$6 billion deal for Black Hawks."[13]

On 31 July 2017, the PIF announced it will spearhead the Red Sea project for luxury beach resorts built over 50 islands unlocking 125 miles of coastline.[14] PIF will inject initial capital in order to raise funds for investments by international actors in the tourism and hospitality sectors.[15]

On August 7, 2018, Elon Musk announced that he was considering taking automotive and energy company Tesla private and that funding was "secured."[16][17] In a follow-up blog post six days later, Musk said the Saudi Arabian sovereign wealth fund had met with him several times since early 2017 to express interest in such a move "because of the important need to diversify away from oil." As of that post, the fund held almost 5% of Tesla stock, purchased through public markets.[18]

See also[edit]

References[edit]

  1. ^ Company Overview of Public Investment Fund, Bloomberg.com
  2. ^ "موقع هيئة الخبراء بمجلس الوزراء". Retrieved 2 December 2016. 
  3. ^ Bloomberg - The Key Questions Asked About Saudi Arabia’s $2 Trillion Fund
  4. ^ "Saudis refine blueprint for post-oil economy". 26 April 2016. Retrieved 2 December 2016. 
  5. ^ "Cabinet Session 23-3-2015 - kingdom of Saudi Arabia - Ministry of Foreign Affairs". Retrieved 2 December 2016. 
  6. ^ "Vision 2030 – How to achieve our vision". June 2016. 
  7. ^ "Financial Times - The Saudi Reshuffle: five key reforms in Riyadh, May 2016". June 2016. 
  8. ^ "Al Arabiya – full text of Vision 2030". June 2016. 
  9. ^ ""Let's establish a joint venture", following a 20-minute explanation of the miracle of Incheon Songdo". POSCO Engineering & Construction., Ltd. November 4, 2015. Retrieved October 22, 2016. 
  10. ^ "SoftBank Group Corp. to Establish SoftBank Vision Fund". SoftBank Group. October 14, 2016. Retrieved October 22, 2016. 
  11. ^ Dobson, Paul Warner (October 2, 2016). "Saudi Arabia's Vision 2030". Headline Hamster. Retrieved October 22, 2016. 
  12. ^ Manchester, Julia (May 20, 2017). "Blackstone, Saudis set to invest $40 billion in primarily U.S. infrastructure". The Hill. Retrieved May 20, 2017. 
  13. ^ "Saudi-US arms deal includes plans for 150 Lockheed Martin Black Hawk helicopters". Arab News. Riyadh, Saudi Arabia. May 20, 2017. Retrieved May 20, 2017. 
  14. ^ His Royal Highness the Crown Prince Announces the Launch of ‘The Red Sea’ project as an international tourist destination as part of the Kingdom’s 2030 Vision, Pif.gov.sa, 31 July 2017
  15. ^ Rob Hodgetts, Saudi Arabia launches luxury Red Sea beach resorts plan, Cnn.com, 3 August 2017
  16. ^ @elonmusk (August 7, 2018). "Am considering taking Tesla private at $420. Funding secured" (Tweet). Retrieved August 14, 2018 – via Twitter. 
  17. ^ "Taking Tesla Private". Tesla, Inc. August 7, 2018. Retrieved August 14, 2018. 
  18. ^ "Update on Taking Tesla Private". Tesla, Inc. August 13, 2018. Retrieved August 14, 2018. 

External links[edit]

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