Investment Details of Saudi Arabia’s PIF in Dozens of Buyout Firms Revealed

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Saudi Arabia’s Public Investment Fund has revealed that it is invested in dozens of buyout firms and private equity groups, including global companies such as Blackstone and General Atlantic.

Sanabil Investments, an arm of the $600 billion sovereign fund, listed a range of investments on its website, including KKR, Hellman & Friedman, Apollo, Brookfield and CVC. Annually, around $2 billion is allocated for venture, growth capital and small buyouts.

With the PIF at the helm, the kingdom is aiming to diversify its economy from oil revenues and attract foreign investment. While the world continues to worry about a looming recession, the country has numerous multimillion investment projects, stretching from electric cars (in which a majority stake in the US-based Lucid was bought) to video gaming and sports.

Just last week, as a leader in Opec+, the country announced an oil output cut to stabilise prices and pave the way for sustainable growth.

The Sanabil Investments list gives an insight into the formidable power of the Saudi financial sector on an international level. It was established in 2009 and taken over by the PIF with a mandate to invest in growth funds and acquire stakes in various industries, with a strong focus on technology and innovation.

The investments fall into a number of categories, covering everything from construction to the scooter rental space, Bird, and the live streaming social media platform, Caffeine. Amounts invested remain undisclosed.

The projects are indicative of the country’s confidence in its own economy and potential for global influence. The maintenance and expansion of this financial prowess is likely to ensure the country will continue to have a substantial role on the world stage in years to come.