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  • Saudi PIF held nearly $56 bln of U.S.-listed stocks in December 2021

    Saudi sovereign wealth fund PIF held nearly $56 billion worth of U.S.-listed stocks as of December last year, up from $43.4 billion at the end of September, boosted by the increased value of electric car maker Lucid (LCID.O), it said in a U.S. regulatory filing.

  • Saudi Arabia’s PIF to invest $40.8mn in fit-out giant Depa

    Depa Interiors, the group’s Middle East key business unit which specialises in the provision of interior solutions to the hospitality, residential, commercial, and transport and civil infrastructure sectors, secured a significant hospitality package in Jeddah, Kingdom of Saudi Arabia for a hospitality brand worth more than $19.7mn (SAR74mn).

  • Saudi sovereign fund PIF to buy controlling stake in Depa

    The Public Investment Fund, Saudi Arabia's sovereign wealth fund, will take a controlling stake in interior design and speciality contractor Depa Plc (DEPA.DI) by agreeing to buy 150 million dirhams ($40.84 million) worth of new shares. The deal will allow the PIF to own 55% of the company, but the $480 billion fund may also exercise the purchase of a warrant instrument that will give it additional shares and a stake of 62.5% if the warrant is exercised in up to 18 months, Depa said.

  • Saudi Wealth Fund PIF Edges Closer to Green Bond With Moody’s Rating

    Saudi Arabia’s sovereign wealth fund has received the fifth-highest credit rating from Moody’s Investors Service ahead of its plans to tap the international bond market for the first time. The A1 rating for the $500 billion Public Investment Fund, which matches the agency’s sovereign rating on Saudi Arabia, “reflects its standalone creditworthiness” as well as its “very high level of interdependence” with the government and likelihood that the state would provide it with support if needed, Moody’s said in a statement on Monday.

  • PIF-owned Elm’s IPO attracts $57b from institutional investors

    Riyad Capital the financial advisor, bookrunner, and lead manager of the initial public offering of Elm's shares said that the book-building process is completed with institutional offering being 69.5 times oversubscribed, drawing orders of nearly SR213.2 billion ($57 billion).

  • PwC chosen for PIF renewable energy projects in Saudi Arabia

    Saudi Arabia’s Public Investment Fund, PIF, has selected the global consulting firm PwC as an advisor on six renewable energy projects, including wind and solar plants.

  • Saudi Arabia’s PIF-backed Elm set to raise $820m through Tadawul IPO

    The deal is the latest in a series of IPOs on Saudi Arabia’s bourse, the biggest in the Arab world by market value, as companies seek to tap into public markets for liquidity to expand operations. There was a sharp rise in the number of listings last year amid a rebound in the kingdom's economy.

  • Perspective: The Saudi PIF Will Not Sell Its Lucid Shares After Lockup Expires

    Today, January 19th 2021, marks the end of the lockup period for Lucid's earliest investors who got in around the time of the SPAC merger with Churchill Capital. The Saudi PIF owns a huge amount of Lucid shares, and a mass unloading by the fund could have disastrous effects for Lucid's share price. This is causing investors no small amount of worry, but in reality the Fund is highly unlikely to unload any significant portion of its holdings.

  • Saudi PIF chief says mining firm Ma’aden aiming for carbon neutrality by 2050

    Saudi Arabian Mining Co is aiming for carbon neutrality by 2050, said Yasir al-Rumayyan, governor of Saudi Arabia's sovereign wealth fund, the Public Investment Fund. Rumayyan, who is also chairman of Ma'aden, was speaking at a mining conference in Riyadh on Wednesday.

  • PIF-backed Roshn and NHC sign pact to develop housing communities in Saudi Arabia

    The kingdom has set an ambitious target of raising home ownership among Saudis in the kingdom to 70 per cent by 2030 under the Sakani programme — a joint initiative between the Ministry of Housing and the Real Estate Development Fund — that supports and enables Saudi citizens to own their first home. About 88,000 households were beneficiaries of the programme in the first half of this year as the real estate market continues to expand, Knight Frank said.