Economy
Saudi Wealth Fund on Track to Manage $400 Billion Assets in 2020

(Bloomberg) — Saudi Arabia’s sovereign wealth fund is on track to manage $400 billion of assets by the end of next year, its head of corporate finance and treasury said.
Read: Saudi Set for Biggest IPO Since 2014
“We are going to become one of the largest and most impactful sovereign wealth funds in the world,” Alireza Zaimi said at a financial summit in Riyadh. “We are growing our assets faster on the international pool as we are trying to diversify, and increase the size and proportion of our international assets.”
Read: Qatar Fund Buys Chunk of $5.6 Billion Manhattan Portfolio
Saudi Arabia is seeking to transform the Public Investment Fund from a domestic holding company into the world’s largest sovereign fund. It’s already made a series of investments in companies such as Tesla Inc. and Uber Technologies Inc. as well as a $45 billion commitment to SoftBank Group Corp.’s Vision Fund.
The wealth fund currently has an AUM of $290 billion, according to Sovereign Wealth Fund Institute, making it the 11th largest globally.
-
News1 month ago
Offer Price, Overview, Investors: Here’s Everything You Need to Know About Asyad Shipping’s Mega IPO
-
OER Magazines1 month ago
OER, February 25
-
Automotive2 months ago
[REVIEW] A Legend Reinvented: The Nissan Patrol Y63 Blends Heritage with Modern Mastery
-
Alamaliktistaad Magazines1 month ago
Al-iktisaad, February 2025
-
Energy2 months ago
Dubai Supreme Council of Energy Unveils 5th Emirates Energy Award 2023–2025 in Muscat
-
News2 months ago
Oil Prices Rise as Investors Assess New US Tariff Threats
-
News2 months ago
Middle East Emerging as a Key Destination for Sports Tourism
-
Banking & Finance2 months ago
Alizz Islamic Bank Partners with Visa to Launch Premium Shari’a-Compliant Card Solutions
You must be logged in to post a comment Login