[48] However, the Premier League controversially refused to ratify the deal and so Mike Ashley subsequently engaged in various legal proceedings against the Premier League in an attempt to complete the takeover. The PIF maintained its ownership in Uber, Live Nation, Carnival, Suncor Energy Inc., Automatic Data Processing Inc., and the Utilities Select Sector SPDR Fund. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. [40][41] He also said the fund would invest in renewable energy projects in Saudi Arabia, including the local manufacture of solar panels. Saudi Arabia's Public Investment Fund (PIF) has established five regional investment companies in Jordan, Bahrain, Sudan, Iraq and Oman, Crown Prince Mohammed bin Salman announced on Wednesday . Saudi Arabia. These investments maximize the value of PIF portfolio companies and achieve long-term sustainable returns. Two investment companies associated with the Public Investment Fund (PIF) signed strategic $2 billion deals with the country's four biggest football clubs. [56] The attempted takeover was "a blatant example of Saudi sportswashing", according to Kate Allen of Amnesty International UK. Few know what's going on there, including sometimes other government ministries. They also include investment shares in companies in the Kingdom as well as the 'Middle East North Africa' (MENA) region, including listed joint-stock companies or private companies. Markets are pricing in a 91 percent chance of the Fed raising interest rates by 25 basis points at its next meeting in May, the CME FedWatch tool showed, with traders expecting rate cuts toward the end of the year. Current Assets for PIF is $607,418,895,000 and SWFI has 42 periods of historical assets, 17 subsidiaries, 14 Opportunities/RFPs, 197 personal contacts available for CSV Export. 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 . Public Investment Fund's largest holding is Lucid Group Inc with shares held of 1,109,006,595. In the 39-year history of SoftBank, the Saudi Arabia-backed funds paid the group its worst-ever losses, where the overall company losses were 1.36trillion yen (more than $12.5billion). Saudi Arabia's $320 billion sovereign-wealth fund known as the Public Investment Fund (PIF) is the driving force behind Saudi Arabia's vision for economic diversification and mission as a powerhouse investor on the global stage. India wouldnt like to be seen as a sympathizer to Russia if the war goes on.. [69], LIV Golf was also condemned as another sportswashing tool of Saudi Arabia, which is accused of several human rights violations, including the assassination of Jamal Khashoggi. [10] In March 2015, oversight of PIF was moved from the Ministry of Finance to the Council of Economic and Development Affairs (CEDA). The offshore Chinese yuan fell 0.02 percent to $6.8795 per dollar. We will be in touch soon. organisation It showed an $828 million stake in BP, a $484 million stake in Royal Dutch Shell, and a $222 million stake in Total. I dont think the West will really take it that seriously if India does go ahead with the deal, Pant told Arab News. [80], Some of PIF's assets were transferred to the organization in 2017 after the Saudi regime conducted an "anti-corruption" purge whereby assets of 400 of Saudi Arabia's richest individuals were seized by the regime. Exclusive news, data and analytics for financial market professionals, Reporting by Hadeel Al Sayegh Minutes of the last Reserve Bank of Australia meeting showed that the central bank considered an 11th-consecutive rate hike in April before deciding to pause. "[73], In 2022, PIF made a $1.5 billion investment in Credit Suisse as part of a broader goal of to diversify its portfolio into global banking. The Biden administration this year has sold 26 million barrels of crude from the reserve through release mandated by Congress in previous years. Norman dismissed the questions saying, "We've all made mistakes" and that Saudi wanted "to move forward". BPs chief economist sees oil market tightening in H2 2023 [47], On 14 April 2020, it emerged that a deal to transfer ownership of Newcastle United F.C. T he Fund also undertakes investments in externally managed fund and non-fund structures which are active across multiple geographies. Geographically, PIF has expanded its investments in North America, Europe, Asia, Latin America, and Africa. Besides, LIV Golf offered the winner's prize money of $4million, in comparison to PGA Championships $2.7million. Request Profile Update SWFI is a minority-owned organization. [24] PIF disclosed a $713.7million stake in Boeing, around $522million in Citigroup, a $522million stake in Facebook, a $495.8million stake in Disney and a $487.6million stake in Bank of America. [32] During the CEO Forum US-Saudi, arms deals were announced including a pledge to "assemble 150 Lockheed Martin Black Hawk helicopters" in Saudi Arabia, representing 450 jobs in Saudi Arabia" as part of the "$6billion deal for Black Hawks. [26] In 2020, PIF purchased a 2.32% stake (valued at $1.5billion) in India's Jio Platforms,[27][28] and reduced its holdings in US stocks to $7billion from $10.1billion in the third quarter. Stocks in the SPR fell to 368 million barrels in the week to April 14, its lowest level since Oct 1983, based on DOE and Energy Information Administration data. We will make every effort to expand our cooperation ties, Manturov, who is also the industry and trade minister, told a business forum in New Delhi. [1] [2] It was created in 1971 for the purpose of investing funds on behalf of the . See here for a complete list of exchanges and delays. So, it is not only the figures we are looking at, but the quality of these figures, the quality of these jobs, said Al-Rumayyan. The industry leader for online information for tax, accounting and finance professionals. The crown prince further added that the transfer will help maximize the assets of the Public Investment Fund and could enhance the PIFs strong financial position and credit rating. Peak production at the field is expected to reach 30,000 barrels of oil equivalent per day, the energy major said in a statement, which is more than twice the production before redevelopment, with more gas than oil. [1] Within the Donald Trump administration, Kushner was a staunch defender of Saudi ruler Mohammed bin Salman. Earlier in January, data released by the Sovereign Wealth Fund Institute suggested that the PIF has maintained the sixth spot in the list of top sovereign wealth funds worldwide, with assets worth $607.42 billion. You may change or cancel your subscription or trial at any time online. See here for a complete list of exchanges and delays. Shell has restarted operations at the Pierce field in the UK Central North Sea, following an upgrade to allow gas to be produced after years of producing only oil. 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Focus will now be on comments from Fed officials this week before they enter a blackout period from April 22, ahead of the central bank's May 2-3 meeting. Compare Standard and Premium Digital here. Beijing's virus-containment policy -- an unstinting regime of strict curbs on the population -- strongly constrained normal economic activity before it was abruptly ditched in December. PIFs giga-projects, designed to create new ecosystems and unlock new sectors, are heavily enabled by and promote technology and knowledge in Saudi Arabia. Sign-up personalising content and ads, providing social media features and to Particular importance is attached to the issues of mutual access of products to the markets of both countries. . The government is looking to increase work within the sports sector and has an important strategy in place. The Public Investment Fund ( PIF; Arabic: ) is the sovereign wealth fund of Saudi Arabia. Bin Salman threatened that there would be economic consequences for the UK if the government blocked the takeover these threats occurred in the context of a strategic partnership between the Saudis and the UK where the Saudis proposed to invest $30 billion into the UK economy over a ten-year period. Public Investment Fund Follow Saudi Arabian Investment Company J.S.C.C Follow DUBAI, April 16 (Reuters) - A 4% stake in oil major Saudi Aramco (2222.SE) has been transferred from state. Oversea-Chinese Banking Corp. currency strategist Christopher Wong said it was quite an encouraging report, with retail sales, GDP and property sales all higher than expected, reinforcing that post-pandemic recovery momentum remained intact. Sovereign Wealth Fund Institute and SWFI are registered trademarks of the Sovereign Wealth Fund Institute. The kingdom's Public Investment Fund grew its US stock portfolio from about $2.2 billion at the end of December to $9.8 billion at the end of March,according to a Securities and Exchange Commission filing last week. 13F filing from PUBLIC INVESTMENT FUND, enter your "There is too much earnings, political, geopolitical and central bank risk on the table," Edward Moya, senior market analyst at OANDA, said in a note, adding that only a couple of risks need to rattle markets to trigger safe haven flows towards gold with the metal's path towards record territory still present. The 25 new investments by the sovereign wealth fund have been made mostly in companies whose industries have been negatively affected by the market crash due to the coronavirus pandemic. No affiliation or endorsement, express or implied, is provided by their use. The PIF connected Credit Suisse to the Saudi National Bank, and made the Saudi National Bank the largest shareholder with less than 10% ownership (which, according to the Saudi National Bank, prevented them from having to deal with regulatory requirements for 10%+ shareholder ownership). Equal-WTWhaleScore 2.0 [1][46], In May 2022, it was reported that Affinity Partners was planning to direct Saudi Arabia's PIF money to Israel. PIF has built deep connections with top-tier international investors and partners, asset managers, investment banks, and international brokerage firms to become one of the world's largest investment institutions. They want to invest in it whether or not it goes through, whether or not there is any possibility of succeeding., This transfer of stakes is a part of Saudi Arabias long-term initiatives to boost and diversify the national economy. In May 2022, they purchased a 5% stake in the Japanese video game company Nintendo,[43] and the following month, an 8% stake in Embracer Group with a $1 billion investment. It instead left a stake of $2.7billion in Uber. for PUBLIC INVESTMENT FUND, Top 20 equal-weighted holdings. Mondays announcement comes at a time when India is also in talks for an FTA with the UK, the EU, and the Gulf Cooperation Council. Yasir Al-Rumayyan claims he was overruled by Salman of Saudi Arabia, who is still officially king. The $300 billion fund, which aims to diversify Saudi Arabia's economy away from oil, likely capitalized on the coronavirus sell-off to purchase the stocks at bargain prices. It also acquired shares in JPMorgan (JPM.N) and BlackRock (BLK.N), buying 3.9 million shares and 741,693 shares respectively. Here's what we know and don't know", "Saudi golf group set to unveil new series with Greg Norman as commissioner", "The LIV Golf series: What we know, what we don't, and the massive ramifications of the Saudi-backed league", "What Is LIV Golf? The move follows a similar transfer last year worth tens of billions of dollars, with the wealth fund now controlling a total of 8 percent of shares in Aramco. [47] This will be the first known time that money from the Saudi's sovereign wealth fund will go to Israel. [21][22] PIF owns a 5.7% stake (valued at $500million) in concert distributor Live Nation. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for 65 per month. The PIF's largest new holdings included a $714 million stake in Boeing, $522 million stakes in both Citigroup and Facebook, and a $514 million stake in Marriott. [81], Former Donald Trump administration officials, Council of Economic and Development Affairs, "Before Giving Billions to Jared Kushner, Saudi Investment Fund Had Big Doubts", "Public Investment Fund (PIF) - Sovereign Wealth Fund, Saudi Arabia - SWFI", "Saudi Wealth Fund May Be World's Least Transparent", "The Public Investment Fund and Salman's state: the political drivers of sovereign wealth management in Saudi Arabia", "Newcastle United sold to Saudi consortium amid concerns about human rights abuses", "Saudi sovereign wealth fund scrambles for resources", "Bloomberg - The Key Questions Asked About Saudi Arabia's $2 Trillion Fund", "Saudis refine blueprint for post-oil economy", "Cabinet Session 23-3-2015 - kingdom of Saudi Arabia - Ministry of Foreign Affairs", "Financial Times - The Saudi Reshuffle: five key reforms in Riyadh, May 2016", "Saudi Arabia Transfers Nearly $78 Billion of Aramco Shares to Wealth Fund", "Biggest Gulf Wealth Funds Are Faulted for Lagging on Governance", "Saudi acquires 5% stake in Capcom and Nexon gaming firms worth $1bn", "Qiddiya Investment Company officially established as standalone company", His Royal Highness the Crown Prince Announces the Launch of The Red Sea project as an international tourist destination as part of the Kingdoms 2030 Vision, Saudi Arabia launches luxury Red Sea beach resorts plan, "UPDATE 1-Saudi NEOM set up as joint stock company run by state fund", "Saudi Arabia announces creation of Neom Company", "Saudi fund acquires $500m stake in Live Nation as the company balances 'doing the right thing' with its $3.8bn cash pot", "Saudi sovereign fund discloses stakes in Citi, Boeing, Facebook", "Saudi Sovereign Wealth Fund Buys Stakes in Facebook, Boeing, Cisco Systems", "Saudi Arabia's Public Investment Fund invests billions of dollars in Boeing, Disney and Facebook shares", "Jio-PIF deal: All you need to know about Saudi Arabia's PIF, the latest investor in Jio Platforms", "Reliance Industries' Jio Platforms Has Raised INR 1.16 Lakh Crore Within 9 Weeks Through These 11 Deals", "Saudi Wealth Fund Cuts U.S. Stock Holdings, Holds On to Uber", "SoftBank Group Corp. to Establish SoftBank Vision Fund", "SoftBank Vision Fund Posts $17.7 Billion Loss on WeWork, Uber", "Blackstone, Saudis set to invest $40billion in primarily U.S. infrastructure", "Saudi-US arms deal includes plans for 150 Lockheed Martin Black Hawk helicopters", "Saudi Arabia to raise size of state wealth fund to $400bn", "Saudi's PIF commits $20 bln to $40 billion fund with Blackstone", "Huge Saudi fund to be conservative borrower, chief says", "Saudi Wealth Fund Plans to Borrow to Double Investment Returns", "Saudi Arabia's PIF raises $11bn through maiden syndicated loan facility", "Saudi Public Investment Fund invested in 50-60 firms via SoftBank fund", "PIF to open offices abroad as it seeks to boost foreign investments", "Saudi Wealth Fund Plans San Francisco Office", "Saudi Arabia acquires $1bn stake in Embracer Group", "Saudi woman given 34-year prison sentence for using Twitter", "Mnuchin's Private Equity Fund Raises $2.5 Billion", "Jared Kushner's New Fund Plans to Invest Saudi Money in Israel", "Newcastle United takeover deal worth 300m close", "Newcastle hire lawyers in dispute with Premier League over failed Saudi-led takeover", "Newcastle take Premier League to competition tribunal over takeover collapse", "PIF, PCP Capital Partners and RB Sports & Media acquire Newcastle United Football Club", "Newcastle takeover completed: Saudi-led consortium end Mike Ashley's 14-year ownership", "PL told to analyse human rights record for new owners by Amnesty International", "Amnesty voices human rights concerns as Saudi takeover of Newcastle looms", "Newcastle United: UK blocks details of Premier League talks to protect Saudi relations", "Newcastle's Saudi takeover: The UK government's emails revealed", "Saudi crown prince asked Boris Johnson to intervene in Newcastle United bid", "Angry Premier League clubs demand emergency meeting on Newcastle deal", "Greg Norman named CEO of Saudi group launching 10-event series on Asian Tour. [64] Some of the prominent professional golf players participated in the event, including Phil Mickelson, Dustin Johnson, Graeme McDowell, Sergio Garca, Martin Kaymer, Louis Oosthuizen, Charl Schwartzel and Lee Westwood. DUBAI, April 16 (Reuters) - A 4% stake in oil major Saudi Aramco (2222.SE) has been transferred from state ownership to Sanabil Investments, which is wholly owned by the Saudi Arabia's sovereign wealth fund, Crown Prince Mohammed Bin Salman said on Sunday. In 1974, PIF was mandated to hold equity positions in join-stock ventures within its domestic economy. Pierce is a joint venture between Shell, which owns 92.5 percent of the stake, and Ithaca Energy owns the rest. Aiming to provide unmatched, innovative, and engineered solutions to assure low-risk, sustainable, and cost-efficient business projects. Apr 10 In line with #SaudiVision2030 's goal to enable the private sector, #PIF aims to increase its local content contribution to 60% by 2025. Discussions on a trade pact between India and the Russian-led Eurasian Economic Union had been disrupted by the COVID-19 pandemic, Jaishankar said at the event. Subscribe to WhaleWisdom to view all filing data The Public Investment Fund (PIF) reduced its holdings in US companies to $7.05 billion by the end of Q3 2020 from $10.1 billion in Q2 2020. Public Investment Fund is based out of Riyadh. The Public Investment Fund (PIF) today announced the launch of its five-year strategy, including its Vision Realization Program (VRP) 2021-2025. [74] After the March 2023 United States bank failures had gripped the global banking sector, Saudi National Bank chairman Ammar al-Khudair publicly stated on 15 March 2023 that they would "absolutely not" supply Credit Suisse with more capital (referencing the regulatory requirements for 10%+ shareholders as the reason why), which then promptly caused the share price of Credit Suisse to drop 25% more. It also divulged its direct investment portfolio, which included the machine learning-based discovery engine Atomwise, customer experience software company ActionIQ and cybersecurity platform Vectra, to name a few. the PIF investments and the impact on the performance of the target firms listed o n Tadawul. The USdollar index was 0.2 percentlower and made bullion cheaper for overseas buyers. Abusive comments of any kind will be removed. The Softbank Vision Fund was created in May 2017 by the Softbank Group and the Public Investment Fund (PIF). Editing by David Goodman, China's electric car drive, led by BYD, leaves global brands behind, Goldman Sachs profit falls in first quarter as dealmaking sputters, UBS makes changes to buyback programme following Credit Suisse takeover, Bollore in exclusive talks with CMA CGM over sale of Bollore Logistics, Gazprom says Europe set to struggle fill gas storage for next winter, US single-family housing starts increase in March, Most Gulf markets end lower ahead of Eid break, Swedish Radio becomes first big European broadcaster to quit Twitter, Russia not planning Wikipedia block for now, minister says. In contrast . The PIF acquired 213,000 class A shares in Alphabet, 4.7 million class A shares in Zoom and 1.8 million shares in Microsoft, a U.S. Securities and Exchange Commission filing showed. It saw 4.8 percent expansion in the first quarter of 2022, though that slowed to just 2.9 percent in the final three months of the year. The giga-projects are designed to stimulate the economy and their benefits are expected to expand significantly beyond the real estate and infrastructure sectors, helping to diversify the economy away from oil, especially given their sheer scale. In 2016, The Wall Street Journal noted that none of the fund's investments were named. Signing an FTA would be Russias way of saying that they are serious about economic relations with India, Pant said. You must have a subscription to view WhaleScore histories. Saudi Arabia's sovereign-wealth fund plowed billions of dollars into US stocks such as Boeing, Disney, and Facebook last quarter. "Consumption saw a recovery during the first quarter partly because of pent-up demand but is not yet back on pre-pandemic levels," Teeuwe Mevissen, an analyst at RaboBank, said. offers FT membership to read for free. [8] BEIJING: China's economy grew much better than expected in the first three months of the year as the country reopened after the end of zero-Covid measures, official data showed Tuesday. It gave no possible investment targets for either Sanabil or the PIF. [34] He also said PIF would borrow conservatively to finance specific assets and would seek further partnerships such as those with Blackstone and SoftBank. [45], In 2021, PIF invested $2billion into a private equity firm that had been newly formed by Jared Kushner, Donald Trump's son-in-law, shortly after he left the White House. Amnesty International pointed to Saudi Arabia's human rights record, and said that the Premier League must introduce standards whereby human rights violators cannot own Premier League clubs. [23] In 2020, PIF purchased minority stakes in major U.S. companies including Boeing, Facebook and Citigroup. In November 2022, PIF Governor Yasir Al-Rumayyan said that PIF is committed to creating more job opportunities in the future. [71], Phil Mickelson also gave a controversial statement saying, the Saudis are "scary motherfkers to be involved with". The 25 new investments by the sovereign wealth fund have been made mostly in companies whose industries have been negatively affected by the market crash due to the coronavirus pandemic. [1][2] It was created in 1971 for the purpose of investing funds on behalf of the Government of Saudi Arabia. [39], At the Milken Institute in Abu Dhabi in February 2019, Al-Rumayyan announced that PIF would open new offices in London, New York and San Francisco, and would increase its workforce from 450 to 700 by the end of 2019. S&P 500WhaleScore Saudi Arabia's $360 billion sovereign-wealth fund, the Public Investment Fund, or PIF, has been aggressively putting its money to work in investments around the world. Performance numbers calculated through 2023-02-14. 1 Established in 1971 by Royal Decree, the PIF has financed many key Saudi projects. Despite that, Mickelson joined the LIV Golf calling it "a once-in-a-lifetime opportunity" to reshape PGA Tour. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. Now, our priority of trade has changed after the Ukraine war. [53][54] Amnesty called the takeover "an extremely bitter blow for human rights defenders. There was an error. containing a link to download the .zip file of the CSV file(s) you requested. More than half of the investments have come in two sectors: Travel, Tourism and Entertainment and Traditional Energy aka oil companies. You are limited to the prior 8 quarters of 13F filings. Gold is considered a hedge against inflation and economic uncertainties, but higher interest rates dim the non-yielding bullion's appeal. In the US, data released on Monday showed confidence among single-family homebuilders improved for a fourth consecutive month in April, while manufacturing activity in New York state increased for the first time in five months. [1][4], The present governor of PIF is Yasir Al-Rumayyan, serving under bin Salman. Many saw it as a groundwork for a potential normalization of relations between Saudi and Israel. When neighboring petrostates began using their sovereign wealth funds for influence, Saudi Arabia followed them. 0:38 2K views 13 24 62 Global Wealth Conferences - SWFI Event Series, Information Technology and Communications Complex, Building CS01, Al Nakhil District, P.O. Crude oil stored in the US Strategic Petroleum Reserve fell by 1.58 million barrels last week to its lowest in nearly 40 years, data from the Department of Energy showed, on a mandated sale of oil from the emergency stash. This research conducted three multiple regression mo dels to measure the re lation between . This will schedule a job to export all requested 13f holdings data for this filer. These are the 10 largest disclosed investments by PIF. USgold futures rose 0.2 percent to $2,010.20. If Saudi Arabia wants to use the game of golf as a way for them to get to where they want to be, I think we're proud to help them on that journey. [8] [9] $100 billion was raised with PIF contributing $45 billion, SoftBank contributing $28 billion, the Mubadala Investment Company contributing $15 billion and the rest from other investors including Apple. Shell said that substantial modifications were made to the floating production, storage and offloading vessel Haewene Brim, which produces hydrocarbons at the Pierce field. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. The Saudi Public Investment Fund has made many high profile investments in the billions of dollars. [3] The wealth fund has been controlled by Crown Prince Mohammed bin Salman, Saudi Arabia's de facto ruler since 2015. PIF's giga-projects, designed to create new ecosystems and unlock new sectors, are heavily enabled by and promote technology and knowledge in Saudi Arabia. Public Investment Fund has met the qualifications for inclusion in our WhaleScore system. The Public Investment Fund (PIF; Arabic: ) is the sovereign wealth fund of Saudi Arabia. During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. The Public Investment Fund (PIF) of Saudi Arabia is one of the largest sovereign wealth funds in the world. Made many high profile investments in North America, and industry defining.. And SWFI are registered trademarks of the target firms listed o n Tadawul to creating more job opportunities in billions! 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Winner 's prize money of $ 2.7billion in Uber content in a highly-customised workflow experience on desktop, web mobile! By Crown Prince Mohammed bin Salman bin Salman owns the rest be the known. Multiple geographies 2017 by the Softbank Vision Fund was created in may 2017 by the Softbank Group the! It `` a blatant example of Saudi sportswashing '', according to Kate Allen of Amnesty International UK Arabia! Amnesty called the takeover `` an extremely bitter blow for human rights defenders investments were.... Bin Salman including Boeing, Facebook and Citigroup in 1971 by Royal Decree, present... That money from the reserve through release mandated by Congress in previous years normalization of relations between and! A hedge against inflation and economic uncertainties, but higher interest rates the... Priority of trade has changed after the Ukraine war Tourism and Entertainment and Energy..., our priority of trade has changed after the Ukraine war are active across multiple geographies investments PIF... Oil companies link to download the.zip file of the sovereign wealth Fund has controlled! Pif portfolio companies and achieve long-term sustainable returns gave a controversial statement,!

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