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PIF

Saudi PIF Acquires Majority Stake in TAWAL

In a significant move within the business media landscape, the Saudi Public Investment Fund (PIF) has secured a controlling interest in Telecommunication Towers Company Ltd (TAWAL), procuring a 51% stake from the STC Group. This strategic acquisition is set to establish the preeminent telecom tower company across the region, as announced by both PIF and STC.The terms of the deal...

Saudi’s PIF Acquires Majority Stake in TAWAL for Telecom Expansion

The Public Investment Fund (PIF) alongside the Saudi Telecommunications Company (stc Group) has disclosed the completion of a definitive agreement that will see PIF take control of a 51% share in Telecommunication Towers Company Limited (TAWAL), previously held by stc Group. TAWAL, a leader in the telecommunications infrastructure market in Saudi Arabia and the region, is valued at an impressive...

Saudi Wealth Fund Initiates $3 Billion Iraq Investment Drive

The sovereign wealth fund of Saudi Arabia has recently launched a dedicated entity, furnished with a $3 billion capital, aimed at channelizing investments within various sectors in Iraq. This move is in line with the Kingdom's broader strategy to deepen its investment footprint in the Middle East and North Africa (MENA) region.Muteb Al-Shathri, the acting CEO of Saudi-Iraq Investment Co.,...

Unveiling Saudi Arabia’s Bold Esports Investment Strategy

Recent strategic maneuvers by the Public Investment Fund of Saudi Arabia, via its gaming arms Savvy Games Group and ESL FaceIt Group (EFG), have sparked a global dialogue about the kingdom's intentions and its potential sway over the esports landscape. Current trends in sports and leagues indicate a shift beyond geopolitical considerations. A prime example is the relocation of the...

Saudi Arabia’s Major Leap into AI Investment

Saudi Arabia is setting its sights on artificial intelligence (AI) for its next major investment frontier. With a history of investments in global sports teams and significant stakes in entities like Uber, the kingdom plans to channel a substantial $40 billion into the realm of AI.Discussions have been underway between representatives from Saudi Arabia's Public Investment Fund and the prominent...

Assessing Lucid Group’s Viability Amid Saudi Fund’s Stake

The financial involvement of a single investment fund is not a solid foundation for a bullish outlook on Lucid Group's stock. It is crucial for wise investors to consider the comprehensive landscape when evaluating a company's prospects. Despite the monetary backing from a significant investor, Lucid Group's stock is graded poorly.Diminishing enthusiasm for electric vehicles (EVs) places manufacturers like Lucid...

Saudi Arabia’s PE Sector Soars to $4 Billion

The private equity landscape in Saudi Arabia is experiencing a remarkable boom. In a recent surge, the sector's value leapt from $1 billion in 2022 to an impressive $4 billion in 2023, distributed across 30 different deals. This information emerges from the latest research provided by Magnitt, showcasing the rapid growth within the kingdom's investment scene.At the heart of this...

Saudi Arabia Invests in AI Future with $40B Pledge

In an ambitious move to transform its economy, Saudi Arabia is setting its sights on a considerable investment in artificial intelligence (AI). The nation plans to allocate a staggering $40 billion to this sector, aiming to reduce its economic reliance on oil. This initiative comes as part of a larger trend where emerging technologies are becoming a competitive field among...

Saudi Arabia’s Strategic Shift: From Oil to Electric Vehicles

The wealth of Saudi Arabia has been profoundly shaped by its oil reserves, yet as the global community grapples with climate change, the nation's oil giants are pivoting towards the burgeoning electric vehicle (EV) sector.Lucid Motors, a Newark, California-based company, announced plans to secure a $1 billion investment from Ayar Third Investment, an affiliate of the Saudi Public Investment Fund...

Lucid Gains Financial Boost with $1 Billion Saudi Investment

Luxury electric vehicle manufacturer Lucid Motors announced a substantial capital infusion of $1 billion from a Saudi Arabian Public Investment Fund (PIF) affiliate, leading to an approximately 8% surge in the company's stock value.This significant backing from the sovereign wealth fund marks a pivotal edge for Lucid in the competitive landscape of electric vehicle (EV) startups seeking financial stability.With a...

Saudi Arabia’s Economic Diversification Push

As Saudi Arabia embarks on its ambitious economic transformation plan dubbed 'Saudi Vision 2030', it has become clear that oil revenues alone are insufficient to fund the extensive investments that the initiative demands. To propel the diversification of its economy, the Kingdom is turning to the international debt market to support its grandiose projects, including the construction of the hyper-futuristic...

Giant AI Investment Fund on the Horizon

At the prestigious Ritz-Carlton Moscow Hotel, PIF Managing Director Yasir bin Othman Al-Rumayyan made an appearance during the Russian-Saudi Investment Forum.In a significant development, Saudi Arabia's Public Investment Fund (PIF) is reportedly in advanced discussions with the prominent American venture capital firm Andreessen Horowitz to establish a substantial fund aimed at artificial intelligence ventures, with the goal of raising $40...

Saudi Arabia’s $40B AI Ambition: A New Investment Powerhouse

Saudi Arabia is poised to make a significant entry into the artificial intelligence sector by creating a substantial investment fund valued at $40 billion specifically for AI start-ups. This initiative marks the kingdom's strategic move to tap into a market that's already saturated with substantial investments.AI is the latest focus of Saudi Arabia's Public Investment Fund The kingdom's Public Investment...

Saudi Wealth Fund’s Remarkable Ascent in Global Rankings

The Saudi Public Investment Fund (PIF) has experienced a meteoric rise in the global hierarchy of sovereign wealth entities, propelled by a staggering 55 percent augmentation in its assets under management.Currently, the PIF's portfolio is valued at an impressive $925 billion, as reported by the Sovereign Wealth Fund Institute based in the United States, a substantial leap from $595.6 billion...

Saudi Arabia’s AI Ambition: A $40B Investment

In an ambitious push to become a key player in the field of artificial intelligence (AI), Saudi Arabia is reportedly establishing a massive investment fund. This fund, estimated to be worth around $40 billion, aims to propel the nation to the forefront of the technological revolution currently transforming global industries. Insiders who have been briefed on the plans reveal that...

Saudi Arabia’s Economic Revolution: AI and Tech Investments

The Saudi Public Investment Fund (PIF) is on a trajectory to amass an astounding $1 trillion by 2025, further cementing its status as a pivotal force in worldwide investments, with a keen focus on groundbreaking technological sectors. Under the stewardship of Crown Prince Mohammed Bin Salman, the PIF ranks as the world's fifth-largest Sovereign Wealth Fund, boasting $926 billion in...

Saudi Sovereign Fund Eyes National Airline Acquisition

Recent discussions have surfaced about Saudi Arabia's massive sovereign wealth fund potentially purchasing the country's flagship carrier Saudia, according to information from insiders.The Public Investment Fund (PIF), which is responsible for managing an impressive $925 billion in assets, is considering this acquisition in line with its ambitious plans to inject capital into tourism and transportation sectors. This strategy is part...

Middle East’s Trillion-Dollar Race: Sovereign Funds’ New Horizons

The Public Investment Fund (PIF) of Saudi Arabia has set an ambitious target to expand its portfolio to a staggering 1 trillion dollars by 2025. In a strategic move, the nation recently augmented PIF's coffers with a $164 billion stake from Aramco, catapulting it to become the Middle East's second-largest fund.Challenging PIF's dominance is the Kuwait Investment Authority, currently the...

Strategic Acquisition: Saudi Wealth Fund Eyes National Airline

Saudi Arabia's state-owned Public Investment Fund (PIF) is reportedly in preliminary discussions to acquire the country's premier airline, Saudia, as part of a multi-billion dollar initiative aimed at transforming the nation into a destination for tourists.The PIF is contemplating an acquisition that would incorporate the 80-year-old Saudia into its expanding aviation holdings as early as the upcoming year. Insiders, choosing...

Saudia’s Potential Shift to Sovereign Wealth Fund Control

Saudi Arabia is reportedly in the process of considering a significant change in the structure of its national airline. The kingdom is exploring the idea of transferring the ownership of Saudia, also known as Saudi Arabian Airlines, to its sovereign wealth fund, the Public Investment Fund (PIF). This information comes from two individuals who are privy to the discussions.The potential...

Strategic Acquisition: Saudi Wealth Fund Eyes National Airline

The sovereign wealth fund of Saudi Arabia is reportedly in preliminary discussions to acquire the nation's leading airline, as part of a broader initiative to transform the country into a global touristic hub.The Public Investment Fund (PIF) has set its sights on incorporating Saudia into its aviation holdings as early as the coming year, with plans to inject several billion...

Strategic Acquisition: Saudi Wealth Fund Eyes National Airline

The Public Investment Fund (PIF) of Saudi Arabia is reportedly engaged in preliminary discussions to acquire the nation's premier airline, Saudia. This move is part of a broader initiative to invest heavily in the country's emerging tourism sector.Insiders with knowledge of the situation, who preferred to remain anonymous, have indicated that the PIF may integrate Saudia, an airline with an...

Selfridges Enters New Chapter Amid Ownership Shuffle

The iconic Selfridges department store has found itself at the center of a high-stakes corporate drama following the financial troubles of one of its principal shareholders, sparking interest from major international investors. The insolvency of Signa, an Austrian firm led by Rene Benko that owns half of Selfridges' property company, has put its stake in the renowned retailer up for...

Tennis Taps Into Billions: Saudi Investment Shakes Up the Game

Anticipation has been high among the stakeholders of tennis for a comprehensive strategy to revitalize the sport, potentially unlocking billions in revenue. Yet, with the Grand Slams' leaders delayed in presenting a cohesive plan, other key figures in tennis are stepping up to drive change.Current discussions reveal that the men's and women's professional tennis tours are in talks to secure...

Saudi PIF’s $2 Billion Bid to Unify ATP and WTA Tours

Saudi Arabia's Public Investment Fund (PIF) has extended a substantial proposal of US$2 billion to amalgamate the men's and women's professional tennis tours, as per reports from The Telegraph. The ambitious plan involves merging the Association of Tennis Professionals (ATP) and Women's Tennis Association (WTA) Tours into a single entity.Andrea Gaudenzi, the chairman of ATP, reportedly relayed this offer to...

Jada’s Strategic Move into US Venture Debt

Jada Fund of Funds, supported by Saudi Arabia's Public Investment Fund (PIF), recently made a groundbreaking move by investing in a US-based fund that specializes in providing venture debt to tech and innovation entrepreneurs. This marks Jada's inaugural foray into the venture debt arena and its second engagement within the realm of private credit.Further solidifying its investment presence, this initiative...

Saudi PIF Unit Backs Venture Debt with Strategic Investment

A subsidiary of the Saudi Public Investment Fund (PIF) has taken a significant step in the venture debt space by allocating funds to a portfolio managed by Partners for Growth (PFG), with the fund's assets under management reaching the $1 billion mark. The initiative signifies the Jada Fund of Fund's second incursion into the realm of private credit, with the...

Saudi Arabia’s PIF Skyrockets in Value with Aramco Stake

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...

Saudi Wealth Fund Climbs to Top 5 Global Ranks

The Public Investment Fund (PIF) of Saudi Arabia has achieved a significant position, ranking fifth among state-owned investment entities with a total asset value surpassing $940 billion. This achievement highlights the country's dedication to diversifying its economy and making strategic investment decisions, thereby establishing the PIF as a formidable entity in the international financial arena. As per the Sovereign Wealth...

Saudi Arabia’s PIF Joins Elite SWF League

The Public Investment Fund (PIF), Saudi Arabia's sovereign wealth fund, has witnessed a remarkable increase in its net assets, now valued at $940.26 billion. This growth positions it as the fifth largest state-owned investment organization globally.An analysis from the US-based Sovereign Wealth Fund Institute reveals that PIF's assets have experienced a $163.6 billion increase. The institute anticipates that PIF will...