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  • Edtech firm Classera raises $40 mln in round led by PIF’s Sanabil

    The Series A round was led by Sanabil Investments, fully owned by Saudi Arabia's sovereign Public Investment Fund (PIF). Other investors were Global Ventures, Endeavor Catalyst, 500 Global, Sukna Venture and Seedra Ventures. "The round additionally included a diverse set of investors from Silicon Valley, emerging markets, and global family offices," the company said in a statement, without naming them. A breakdown of the value of the investments was not disclosed. It said proceeds would be used to continue developing its Learning Super Platform (LSP) for the education and corporate e-training sectors, and to cement its position as a global leader in e-learning and EdTech.

  • Saudi Wealth Fund PIF Ready Billions in Domestic Stock Sales, Sources Say

    The fund has investments in companies across a range of industries from Saudi Electricity and utility Acwa Power to bourse operator Saudi Tadawul Group Holding. It owns majority stakes in the $53 billion commodities firm Saudi Arabian Mining and $54 billion carrier Saudi Telecom, as well as holdings in lenders including Saudi National Bank, Riyad Bank and Alinma.

  • PIF to launch 5 regional investment firms to draw $24bn: Saudi Crown Prince

    The PIF, which manages about $620 billion in assets and aims to grow that to over $1 trillion by 2025, was the second most active state investor between January and October, with 39 deals valued at $17.2 billion during the period, according to wealth fund tracker Global SWF.

  • Saudi Wealth Fund PIF Plans to Invest $24 Billion in Regional Countries

    The Public Investment Fund plans to set up companies to invest in Bahrain, Oman, Jordan, Iraq and Sudan, according to a statement. It will channel funds into several sectors including infrastructure, heath care, real estate and telecommunications. In August, the PIF started the Saudi Egyptian Investment Co. to invest in Egypt.

  • Saudi Wealth Fund PIF Plans to Invest $24 Billion in Regional Countries

    The Public Investment Fund plans to set up companies to invest in Bahrain, Oman, Jordan, Iraq and Sudan, according to a statement. It will channel funds into several sectors including infrastructure, heath care, real estate and telecommunications. In August, the PIF started the Saudi Egyptian Investment Co. to invest in Egypt.

  • PIF Launches Halal Products Development Company

    The Public Investment Fund “PIF” today announced the launch of the Halal Products Development Company (“HPDC” or “Company”), which will invest in localizing the Halal production industry in Saudi Arabia by increasing the efficiency of the ecosystem locally, while supporting the development of knowledge and innovation in this key industry – with plans to export to different markets globally. Building on Saudi Arabia’s position in the Islamic world, HPDC will aim to unify global efforts and promote Saudi Arabia as a global Halal hub.

  • Saudi Wealth Fund PIF Head Says ‘Stay Tuned’ on Aramco Stake Sale

    The governor of Saudi Arabia’s sovereign wealth fund says people should “stay tuned” for news on it selling down an $85 billion stake in Aramco. The $620 billion Public Investment Fund owns 4% of Aramco, which the government transferred to it in February. Bloomberg reported soon after that the PIF had started discussions about how to monetize the holding and raise funds for its ambitious investment goals.

  • Saudi Wealth Fund PIF Offers to Buy Stake in $5.8 Billion STC Towers Unit

    The Public Investment Fund has offered to buy a majority stake in the telecom towers unit of Saudi Arabia’s largest phone company, the next step in its ambition to create a cellular tower behemoth in the kingdom. The PIF made a non-binding offer to Saudi Telecom Co. for 51% of Telecommunications Towers Co, according to a statement on Monday. STC is assessing the offer for Tawal and said the entire business has been valued at $5.8 billion on a cash- and debt-free basis.

  • Zain Saudi Arabia moves ahead on towers sale to PIF-led group

    Mobile telecommunications company Zain Saudi Arabia said on Sunday it had transferred ownership of its unit Zain Business Limited to the Public Investment Fund (PIF), paving the way for the sale of the company's towers infrastructure. PIF has changed the unit's name to the Golden Lattice Investment Company (GLI), a statement posted on the Saudi stock exchange said, which will become the holding company in charge of the sale of Zain KSA's towers infrastructure units.

  • Saudi PIF Successfully Issues Inaugural Century Green Bond

    The total number of subscription requests exceeded $24 billion - as the bond was more than 8 times oversubscribed - divided over three tranches: the first with a value of $1.25 billion for 5-year bonds, the second with $1.25 billion for 10-year bonds, while the value of the third tranche is $500 million for 100 years.