The Public Investment Fund (PIF) is Saudi Arabia's sovereign wealth fund, established on August 17, 1971 by King Faisal bin Abdulaziz Al Saud to provide financing support for projects of strategic significance to the national economy. Since 2015 it has expanded rapidly under the chairmanship of Crown Prince Mohammed bin Salman as the principal investment vehicle of Saudi Arabia's Vision 2030 economic diversification programme, with more than 60 percent of its activity concentrated domestically among major Saudi conglomerates alongside international ventures in entertainment, technology, transportation and financial services. It manages several hundred billion US dollars in assets, placing it among the world's largest sovereign wealth funds.
Facts
Founding Year Founding Date Headquarters Geography
Country or Jurisdiction ServedWikidata Q12220298, property P17 (country). Classification
Institution Subtype In the Other Atlases
Sources
1. Public Investment Fund, Wikipedia
Infobox, Founded (date)
Founded 17 August 1971
History, first sentence
The Saudi Arabian Public Investment Fund (PIF) was established by King Faisal bin Abdulaziz Al Saud in 1971
Infobox, Headquarters
Public Investment Fund Tower, Riyadh, Saudi Arabia
View the Source2. Wikidata
Wikimedia Foundation
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