Saudi Arabia's sovereign wealth fund eyes overseas expansion

Saudi Arabia's sovereign wealth fund eyes overseas expansion:

"Saudi Arabia’s sovereign wealth fund is considering opening offices around the world as it plans to expand its assets under management to $400bn by 2020 through overseas as well as domestic investments. 

Yasir al-Rumayyan, managing director of the kingdom's Public Investment Fund said it was weighing opening up offices in the US - New York and San Francisco - the UK and Japan as it seeks to become a "global investment powerhouse'.

Speaking at a gathering of Saudi and US business leaders in New York, he said the PIF had grown from around 50 people in 2015 to 240 today and he sought to double this number by the end of the year. "



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