The Public Investment Fund (PIF) of Saudi Arabia has undergone a substantial increase in total assets, with a rise of $163.6 billion, culminating in a new total of $940.26 billion, as per the latest figures released by the Sovereign Wealth Fund Institute.
This impressive uptick in asset value is largely due to Saudi Arabia endowing PIF with an 8% share of Aramco, elevating the fund’s status to the fifth-largest sovereign wealth fund worldwide.
The total value of PIF’s Aramco stakes, both direct and indirect, is calculated at $163.6 billion, taking into account Aramco’s current market capitalization. The direct stake comprises 4% acquired in 2022, while Sanabil Investments, a PIF-owned entity, holds an additional 4% from a transfer the previous year.
The ascension of PIF’s assets is a direct result of the integration of an 8% stake in Aramco into its portfolio of holdings.
The current global leaderboard of sovereign wealth funds is topped by Norway’s Government Pension Fund Global at $1.65 trillion, followed by China Investment Corporation at $1.35 trillion, SAFE Investment Company at $1.09 trillion, and the Abu Dhabi Investment Authority at $993 billion.
After the latest equity transfer in Aramco, the Saudi state now possesses an 82.186% majority stake in the company.
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