Saudi PIF Plans $70 Billion Annual Deployment
Yasir Bin Othman Al-Rumayyan, governor of the Public Investment Fund (PIF), made the announcement during the FII Priority Conference in Miami.
Saudi Arabia's sovereign wealth fund announces plans to escalate its annual capital deployment to $70 billion after 2025.[1]
As revealed by Yasir Bin Othman Al-Rumayyan, governor of the Public Investment Fund (PIF), during the FII Priority Conference in Miami, the current $40 billion to $50 billion annual investment is slated for a substantial boost in the coming years.
Managing a colossal portfolio exceeding $700 billion, PIF directs over 70% of its investments within Saudi Arabia. However, with an eye on international diversification, Al-Rumayyan disclosed plans to allocate 20% to 25% of the fund's resources to global ventures, with this figure set to grow progressively.
Highlighting the fund's significant contributions to the US economy, Al-Rumayyan noted investments totaling $100 billion between 2017 and 2023, which facilitated the creation of over 103,000 jobs in the country.