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.
-
Economy2 months agoMiddle East Tensions Heighten Risks to Strait of Hormuz, Raising Uncertainty for Global Oil Markets
-
Economy2 months agoExclusive: Inside Oman’s Evolving MSME Finance Ecosystem – An Interview with Hussain Al Lawati, CEO, Development Bank
-
Banking & Finance4 weeks agoSohar International Contributes OMR100,000 to Support Those Affected by Al Masarrat Weather Conditions
-
News2 months agoAir India Express Announces ‘Payday Sale’; Offers Lowest Fares Across Domestic & International Network
-
OER Magazines1 month agoOER, March 26
-
Economy2 months agoIbri Industrial City Localises Two Projects Worth RO2M in 2025
-
News1 month agoReal Estate Price Index in Oman Grows By 13.9%
-
News2 months agoVIDEO: Al Khamayil Oman Scales Up Production with New Rusail Facility

You must be logged in to post a comment Login