Saudi Sovereign Fund Dwarfs Qatar With Virgin and SoftBank Deals - Bloomberg

Saudi Sovereign Fund Dwarfs Qatar With Virgin and SoftBank Deals - Bloomberg:

"Saudi Arabia is emerging as the Middle East’s biggest deal-maker as the kingdom creates what it hopes will be the world’s largest sovereign wealth fund.

Its Public Investment Fund spent about $54 billion on investments last year, dwarfing the Qatar Investment Authority’s $3.5 billion, according to data from the Sovereign Wealth Fund Institute. The boycott-hit state has been shedding assets and investments fell from $20 billion in 2016, when the PIF had invested just $5 billion, according to the data.


Saudi Arabia’s deal-making is quickening as the kingdom steps up plans to transform its economy, while a diplomatic spat is hampering the QIA’s ability to continue making headline-grabbing global deals. In the past year alone, the PIF struck an agreement to invest $45 billion in SoftBank Group Corp.’s technology fund, committed $20 billion to an infrastructure fund with Blackstone Group LP and said it plans to invest about $1 billion in Virgin Group’s space companies."



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