#Saudi Public Investment Fund boosts investments in 2018 | ZAWYA MENA Edition

Saudi Public Investment Fund boosts investments in 2018 | ZAWYA MENA Edition:

Saudi Arabia’s sovereign investor Public Investment Fund (PIF) has stepped up its expansions this year by implementing transactions with various local and global investors.

The Saudi sovereign wealth fund’s (PIF) new investments are part of the kingdom’s Vision 2030 that aims to diversify economic resources away from oil revenues and invest more heavily in infrastructure.

Accorinvest

In March, AccorHotels signed contracts with a number of investors including the PIF to sell a 55% stake in its subsidiary AccorInvest at a value of $5.4 billion (EUR 4.4 billion).

Saudi Arabia’s PIF, Singapore’s GIC Pte sovereign-wealth fund, Credit Agricole Assurances, Amundi SA, Colony NorthStar Inc. and other investors had joined forces to acquire the majority stake in AccorInvest's property business.