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Tuesday, 28 March 2017

Saudi sovereign fund expands footprint with Jordan investment firm | Reuters

Saudi sovereign fund expands footprint with Jordan investment firm | Reuters:

"Saudi Arabia's top sovereign wealth fund said on Tuesday it was expanding its international presence by creating an investment firm that would pursue real estate, energy, tourism and infrastructure projects in Jordan. The Public Investment Fund, founded in 1971 to finance development projects within Saudi Arabia, has traditionally served largely as a holding company for the government's stakes in Saudi companies. But under Saudi economic reforms launched last year, the PIF is expanding abroad, investing in U.S. ride-hailing firm Uber and a global technology fund, and considering other investments ranging from a Kuwaiti food maker to German financial firms."



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