Public Investment Fund of the Kingdom of Saudi Arabia

Founded: 
1971
Address: 
Public Investment Fund of the Kingdom of Saudi Arabia
Saudi Arabia
SA
Investment lists: 
Official name: 
Public Investment Fund of the Kingdom of Saudi Arabia
Also known as: 
PIF
Registration country: 
Saudi Arabia
ISIC Code: 
6430
Company type: 
Private equity fund backed by the government of Saudi Arabia.
Overview: 
The Saudi Arabian Public Investment Fund was established in 1971 to provide financing support for projects of strategic significance to the national economy, and its role has evolved to incorporate a number of different areas. These include holding and managing the government's stakes in some of Saudi Arabia's largest and most important blue chip companies. PIF has also set up and managed a number of companies to support innovation, diversification and non-oil sector development within the Kingdom. Furthermore, the institution has been responsible for holding and managing the government's stake in bilateral and multilateral companies abroad as well as investing selectively in a range of other asset classes internationally. PIF has gone through major restructuring, and had supervision moved from under the Ministry of Finance to the Council of Economic and Development Affairs, led by His Royal Highness Prince Mohammed Bin Salman Bin Abdulaziz, since March 2015. PIF, under the leadership of His Royal Highness, has revised its long term investment strategy to coincide with the country's Vision 2030.