Ministry Of Finance Compound
Kingdom Of Saudi Arabia
P. O. Box # 6847
Kingdom of Saudi Arabia
Tel: 009661-4050000/2006[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]
Strategy & Objectives
The portfolio of the PIF includes mostly loans, equity interests in national firms and equity shares in corporations.
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The Public Investment Fund (PIF) was originally established in 1971 to facilitate the development of the Saudi Arabian national economy. In 1974, PIF was mandated to hold equity positions in joint-stock ventures within its domestic economy. In 2008, PIF will manage and fully own a new sovereign wealth fund. The new sovereign wealth fund managed by the PIF will take on a long term investment horizon similar to that of most sovereign wealth funds.
The fund created Sanabil Investments. Sanabil is a closed joint stock company with a share capital of twenty billion (20,000,000,000) Saudi Riyal and is headquartered in the city of Riyadh. Sanabil Investments seeks to realize sustainable superior returns based on long-term investment strategies built on diversification of investments, optimizing risk management and careful selection of investment opportunities.
The Public Investment Fund (PIF) was established by Royal Decree No. M/24, dated 25-06-1391H corresponding to 17-08-1971. The purpose of establishing PIF was to provide financing support to productive projects which are of a commercial nature and are strategically significant for the development of the national economy and cannot be implemented by the private sector alone either because of insufficient experience or inadequate capital resources or both.