U.S. Jobless Claims Post Surprise Drop, Shadowed by Virus Risks, S&P 500 Rallies to Close the Year at Record High: Markets Wrap, London’s Luxury New Home Slump Stings Asian Developers, Temperature Snag Delayed 144,000 Moderna Shots Bound for Texas, N.Y. and California End Year Shattering Records: Virus Update. A customer wears a protective face mask after shopping at a Lulu hypermarket in Dubai. Since 2016, PIF has created 10 new sectors, more than 30 new companies, and over 190,000 new jobs for the people of Saudi Arabia. Submitting annual audited accounts within six months of the period end; 4. The $300 billion Public Investment Fund revealed stakes valued at over $500 million in Boeing, Cisco, Disney, Facebook, and other US companies. Saudi Arabia announced on Tuesday the creation of three new ministries, for tourism, sports and investment, according to royal decrees that also unveiled a sweeping cabinet reshuffle. Saudi Arabia’s Public Investment Fund (PIF) Restructuring Program is one of the core projects in the country’s Vision 2030 initiative. The Public Investment Fund is considering buying a minority stake in the retailer, said the person, who asked not to be identified because the information is private. Saudi Arabia’s Public Investment Fund (PIF) has launched a new investment vehicle aimed at boosting small and medium enterprises (SMEs) in the Kingdom. PIF’s social investment strategy aims to maximize PIF’s impact and visibility. Known as a “private investment fund (PIF)”, this is defined as a company, limited partnership, unit trust or any other body which collects and pools investor funds and issues proportionate fund interests computed according to the net asset value of the fund. To actively invest over the long term to maximize sustainable returns, be the investment partner of choice for global opportunities, and enable the economic development and diversification of the Saudi economy, This map represents countries where PIF has carried out dire​ct investments. The funds raised through the stake sale are being used to expand in Jordan, Iraq & Morocco, the person added. Interestingly, PIF was to be a part of the investor consortium in the tower InvIT as well, along with Canadian pension fund BCIMC and Singapore's GIC. Any new investment from the PIF will come months after a company led by Sheikh Tahnoon Bin Zayed Al Nahyan acquired an almost 20% holding in LuLu Group International. At just over $1 billion, that deal ranks among one of the UAE’s largest consumer deals in recent years. Saudi Arabia aims at transferring the PIF from a mere local authority to the largest sovereign fund in the world. Sheikh Tahnoon is the chairman of Royal Group, which has holdings in businesses such as media, trade, financing and real estate among others, according to its website. What is a PIF? Saudi Arabia’s $360 billion sovereign wealth fund is exploring a potential investment in LuLu Group International, which runs one of the Middle East’s largest hypermarket chains, according to a person familiar with the matter. Abu Dhabi Sheikh Is Said to Invest $1 Billion in Top Grocer LuLu. Since 2016, PIF has created 10 new sectors, more than 30 new companies, and over 190,000 new jobs for the people of Saudi Arabia.-Ends-About the Public Investment Fund. It has an annual turnover of about $7.4 billion and employs more than 55,000 people. So we will get there at some stage, but for now we are relying on our banking partners. About the Presbyterian Investment Fund. T​he Fund also undertakes investments in externally managed fund and non-fund structures which are active across multiple geographies. The PIF, once a holding company for government stakes in domestic businesses, had its mandate broadened in 2015 by Crown Prince Mohammed bin Salman to include international investments to support economic diversification. New Saudi PIF investment filing points to why they pulled out of Newcastle United takeover. The Public Investment Fund (PIF) was established in 1971 as the sovereign wealth fund of the Kingdom of Saudi Arabia. The foundation’s mission is to develop and nurture social investment initiatives that stimulate entrepreneurship, competitiveness and knowledge-based economy which considers the human capital to … Managing conflicts of interest; 2. It is happened to know Passion Investment through friend’s referral. Share It is now 22 days since the Saudi PIF … The volume of the sealed deals has exceeded USD 2 billion within the past year. 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