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  • Rory McIlroy explains what he wants PGA Tour players to learn from Saudi PIF meeting

    Patrick Cantlay confirmed a Golfweek report that a group of PGA Tour players are planning to meet with Yasir Al-Rumayyan, the head of Saudi Arabia’s Public Investment Fund, on Monday in an effort to continue towards a deal that would seemingly reunite men’s professional golf. The original report stated the meeting was tentatively scheduled at a private residence in Ponte Vedra Beach, Florida, following the conclusion of the Players Championship at nearby TPC Sawgrass.

  • PIF sources deny it has made $2bn ‘take-it-or-leave-it’ offer to unite tennis tours

    PIF has declined to comment on the reports but sources have denied there is a deadline and stressed speculation about any offers are premature as talks continue with the various bodies. Saudi sources also dismissed suggestions that PIF is trying to “buy tennis”, stressing that it wants to be part of the “existing ecosystem” of the sport.

  • Saudi Arabia’s PIF updates its asset size to $925.2bn

    Saudi Arabia’s sovereign wealth fund has revised its asset size on its website, reaching $925.2 billion, after it climbed to the fifth spot in a ranking of state-owned investment organizations. The significant rise in the Public Investment Fund’s standing follows its procurement of an additional 8 percent stake in Aramco, boosting its shareholding’s estimated value to $328 billion. This acquisition has significantly impacted PIF’s overall assets under management, exceeding $860 billion, a rise from $700 billion by the end of 2022.

  • Report: Saudi Arabia’s PIF pitches $1bln investment into tennis

    Golf isn't the only sport Saudi Arabia's Public Investment Fund is trying to get its hands on. In the midst of negotiations with the PGA Tour, PIF is also looking to invest in tennis, specifically the ATP Tour and the WTA Tour, Sportico reported Wednesday. PIF is not looking to take over the tours, per the report. Instead, the money invested would primarily be used to acquire licensing that would bring a Masters 1000 event to Saudi Arabia. ATP chairman Andrea Gaudenzi reportedly made those on the tours aware of the offer last weekend at the BNP Paribas Open in Indian Wells, Calif.

  • Saudi Arabia’s PIF updates its asset size to $925.2bn

    Saudi Arabia’s sovereign wealth fund has revised its asset size on its website, reaching $925.2 billion, after it climbed to the fifth spot in a ranking of state-owned investment organizations. The significant rise in the Public Investment Fund’s standing follows its procurement of an additional 8 percent stake in Aramco, boosting its shareholding’s estimated value to $328 billion. This acquisition has significantly impacted PIF’s overall assets under management, exceeding $860 billion, a rise from $700 billion by the end of 2022.

  • Saudi Arabia’s PIF To Ramp Up Bond Sales, IPOs to Pay for MBS’s Projects

    Saudi Arabia’s sovereign wealth fund is considering plans to accelerate debt sales or obtain bank loans as it hunts for new sources of cash to help pay for Crown Prince Mohammed bin Salman’s trillion-dollar economic transformation project. The Public Investment Fund could also line up equity offerings in its portfolio companies as part of the push, according to people familiar with the matter. The moves come as the fund’s cash reserves have dropped to $15 billion as of September — the lowest level since 2020, the earliest year for which data is available.

  • Jay Monahan says Saudi PIF discussions are ‘accelerating’ but refuses to answer specifics

    During his annual press conference ahead of the 2024 Players Championship, Jay Monahan updated the media on the current state of discussions with Saudi Arabia’s Public Investment Fund. “As I’ve said on a number of occasions, you can’t negotiate a deal like this in public,” Monahan said at TPC Sawgrass on Tuesday morning. “I recently met with the governor of the PIF, Yasir Al-Rumayyan, and our negotiations are accelerating as we spend time together.”

  • PIF ranks 5th among sovereign wealth funds globally, nears $1tn in net assets 

    Saudi Arabia’s sovereign wealth fund has climbed to fifth in a ranking of state-owned investment organizations, with its net assets reaching $861 billion, according to a new report.  The US-based Sovereign Wealth Fund Institute stated that the Public Investment Fund is marching toward its end-2025 target of $1 trillion in assets, which is intended to enhance the Kingdom’s diversification efforts.  The significant rise in the PIF’s ranking follows its acquisition of an additional 8 percent stake in Aramco, boosting its shareholding’s estimated value to $328 billion. 

  • Saudi PIF, Bahrain’s Mumtalakat to boost cooperation, investment

    The sovereign wealth funds of Saudi Arabia and Bahrain have signed a memorandum of understanding (MoU) to boost cooperation and investment in strategic sectors, Saudi state TV reported. Saudi Arabia's PIF said the MoU will enhance its investment opportunities in Bahrain and will provide others for the private sector in the two countries, Tuesday's TV report added.

  • Saudi Arabia’s PIF, ATP announce strategic partnership to enhance global tennis

    Saudi Arabia’s Public Investment Fund (PIF) and the governing body of men’s professional tennis, ATP Tour, announced on Wednesday a new multi-year strategic partnership, in a move that further elevates the Kingdom’s position in the global sports scene. The partnership marks a “significant shared commitment to enhancing global tennis for players, fans, tournament organizers and stakeholders at all levels of the sport,” both PIF and ATP said in a statement.