#SaudiArabia’s Sovereign Wealth Fund (PIF) to Deploy $70 Billion a Year - Bloomberg

Saudi Arabia’s Sovereign Wealth Fund (PIF) to Deploy $70 Billion a Year - Bloomberg

Saudi Arabia’s sovereign wealth fund is set to increase its annual deployment of capital to $70 billion a year after 2025.

The Public Investment Fund, or PIF, currently puts $40 billion to $50 billion of capital to work on an annual basis, and that’s set to increase after 2025, the fund’s governor, Yasir Bin Othman Al-Rumayyan, said Thursday at the FII Priority conference in Miami.

PIF, which manages more than $700 billion, allocates more than 70% of its investments in Saudi Arabia. It’s targeting an allocation of 20% to 25% for international investments, with the absolute number increasing over time, Al-Rumayyan said during the event.

The fund invested about $100 billion in the US between 2017 and 2023 — creating more than 103,000 jobs there, he said.

PIF has invested heavily in golf, and in June the PGA Tour proposed a merger with Saudi-backed LIV Golf.