Saudi Sovereign Wealth Fund Targets 4 Trillion Riyals by 2025
Posted on 01/24/2021
On Saudi state TV, Saudi Crown Prince Mohammed bin Salman plans to double PIF’s assets to 4 trillion riyals (US$ 1.07 trillion) by 2025. PIF stands for the Public Investment Fund, which is a massive sovereign wealth fund in Saudi Arabia. This would mean the PIF could be just behind Norway’s elephantine sovereign wealth fund in terms of assets under management. PIF plans to invest 3 trillion riyals over the next 10 years, according to the prince’s televised speech.
Previous comments by Saudi Crown Prince Mohammed bin Salman have the PIF with an expectation of overseeing US$ 2 trillion of assets by 2030.
The PIF plays a central role in Saudi Arabia’s Vision 2030 plan.