as well as other partner offers and accept our, Andrew Francis Wallace/Toronto Star via Getty Images, Visit Business Insider's homepage for more stories, according to a Securities and Exchange Commission filing last week, GOLDMAN SACHS: Buy these 21 cheap, unappreciated stocks that offer above-average growth potential, invested in a range of European oil companies last quarter, 'We have a depression on our hands': The CIO of a bearish $150 million fund says the market will grind to new lows after the current bounce is over and warns 'a lot more pain' is still to come, Registration on or use of this site constitutes acceptance of our. I dont think the West will really take it that seriously if India does go ahead with the deal, Pant told Arab News. For cost savings, you can change your plan at any time online in the Settings & Account section. In contrast . India and Russia are also in advanced negotiations on a new bilateral investment treaty, Jaishankar added. Concept papers shall be delivered to: pif@formin.fi. Public Investment Fund's largest holding is Lucid Group Inc with shares held of 1,109,006,595. 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. 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. The next round of appraisals of the concept papers for the Public Sector Investment Facility (PIF) closes March 24th, 2023. Our Standards: The Thomson Reuters Trust Principles. There were multiple meetings by Kushner had with a range of Israeli startups before he picked two of them to make an investment. The giga-projects are designed to stimulate the economy and their benefits are expected . Meanwhile, the euro was up 0.07 percent to $1.0934 but was below the one-year high of $1.10755 it touched last week, with traders expecting the regions central bank to stick to its monetary tightening path. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. CBAs Clifton said Britains policymakers would be watching the wages data closely for further confirmation that private sector income growth is slowing. The PIF, which manages $620 billion in assets, is at the centre of Saudi Arabias plans to transform the economy by creating new sectors and diversifying revenues away from oil. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. 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. 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. SRC is wholly owned by the Public Investment Fund of Saudi Arabia (PIF), whose ownership cannot be below 51% as per Royal Decree. After years of travel restrictions and quarantines, Chinese people in recent months have finally returned to restaurants and started to move around more freely, giving much-needed stimulus to services. 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[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. Exclusive news, data and analytics for financial market professionals, Reporting by Hadeel Al Sayegh 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). It also acquired shares in JPMorgan (JPM.N) and BlackRock (BLK.N), buying 3.9 million shares and 741,693 shares respectively. Whalewisdom has at least 26 13F filings, 17 13G filings, and 5 Form 4 filings. 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. Spot gold was up 0.3 percent at $2,000.09 per ounce, as of 0642 GMT. All material subject to strictly enforced copyright laws. 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. We will rely on trusted foreign partners. It also revealed stakes worth. The dollar index, which measures the currency against six major rivals, eased 0.078 percent to 102.01 after rising 0.5 percent overnight. Saudi Arabia's PIF discloses investments in dozens of buyout firms. It gave no possible investment targets for either Sanabil or the PIF. Public Investment Fund's largest holding is Lucid Group Inc with shares held of 1,109,006,595. SWFI is a minority-owned organization. 1 auto market, G7 puts focus on push for global fossil fuel phaseout deal, J&J lifts profit forecast as cancer drugs, Stelara buoy pharma unit, Exclusive: Airbus advises airlines of 2024 delays, keeps output goals, AstraZeneca confident new COVID antibody protects against known variants. The Public Investment Fund (PIF) is building a diversified portfolio by investing in attractive, . 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. for 300m had been agreed between incumbent owner Mike Ashley and a prospective buying consortium consisting of the Public Investment Fund, PCP Capital Partners and Reuben Brothers. for Q4 2022. Even if such a deal goes through as war continues in Ukraine, however, India may not have to worry about any implications from the West, said Harsh V. Pant, head of strategic studies at the Delhi-based Observer Research Foundation. [1], In 2021, PIF invested $1billion in the investment fund established by former Donald Trump administration official Steven Mnuchin just after he left government. The Kingdom didn't have diplomatic relations with Israel and was neither a part of the Abraham Accords. April 16, 2023 10:26. [58], In October 2021, a division of the PIF, Golf Saudi funded the establishment of the LIV Golf Investments, with Greg Norman declared to be its CEO. The latest filing also confirmed reports that the fund invested in a range of European oil companies last quarter. Subscribe to WhaleWisdom to view all filing data Stay informed and spot emerging risks and opportunities with independent global reporting, expert The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. [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. Saudi PIF backed the event with $2billion in funds. About Public Investment Fund (PIF) is building a world-class domestic and international investment portfolio, and is positioned to be transformed into the world's largest sovereign wealth fund.. 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. Sanabil Investments has pledged to commit $2 billion annually in earlier stages of the business lifecycle, particularly in venture capital, growth and small buyouts, according to its website. [63] In June 2022, LIV Golf Invitational Series commenced its eight-event journey, with total prize money of $255million. 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. The losses were related to the investments in WeWork and Uber Technologies Inc. [34] He also said PIF would borrow conservatively to finance specific assets and would seek further partnerships such as those with Blackstone and SoftBank. We give you the access and tools to invest like a Wall Street money manager at a Main Street price. The Public Investment Fund (PIF) today announced the launch of its five-year strategy, including its Vision Realization Program (VRP) 2021-2025. RIYADH: A 4 percent stake in energy giant Saudi Aramco has been transferred from state ownership to Sanabil Investments, the investment arm of the Kingdom . Request Profile Update Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. Standard Digital includes access to a wealth of global news, analysis and expert opinion. [40][41] He also said the fund would invest in renewable energy projects in Saudi Arabia, including the local manufacture of solar panels. Few know what's going on there, including sometimes other government ministries. 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? Investors will focus on UK employment data due later in the day, which could cause some volatility in the pound if the report shows that the labor market is not cooling. The PIF maintained its ownership in Uber, Live Nation, Carnival, Suncor Energy Inc., Automatic Data Processing Inc., and the Utilities Select Sector SPDR Fund. Sign-up Saudi Arabia was warned by Kushner that it could lose the opportunities in Israel to its neighbors who signed the accords, including the UAE and Bahrain. [52], Human rights organizations criticized the Premier League for allowing PIF to purchase a Premier League club. university Many saw it as a groundwork for a potential normalization of relations between Saudi and Israel. It is among the largest sovereign wealth funds in the world with total estimated assets of US$ 620 billion ( 514 billion). He went on and said that the PIF will continue to launch new sectors, along with building strategic economic partnerships, localize technologies and knowledge, which will ultimately result in the creation of more direct and indirect jobs in the local labor market. . and other data for a number of reasons, such as keeping FT Sites reliable and secure, RIYADH: Gold prices rose on Tuesday after two sessions of losses as the dollar eased, while investors sought more clarity on the USFederal Reserve's monetary policy stance. The Public Investment Fund (PIF) of Saudi Arabia is one of the largest sovereign wealth funds in the world. Yasir Al-Rumayyan also admitted that of the $35 billion spent by the PIF as part of this activity, it soon rose to $49 billion when markets rose. PIF is mandated to invest and fund domestically and internationally in various key strategic sectors and asset classes including technology, financials, telecom, real estate, utilities, and giga projects, to promote the diversification of the national economy. Argaam.com Copyright 2023, Argaam Investment, All Rights Reserved, {{getCommenterName(comment.ParentThreadID)}}. For a full comparison of Standard and Premium Digital, click here. 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. The Program was launched in the fourth quarter of 2017 with the aim of strengthening PIF's position and making it an essential arm to achieve Vision 2030. DUBAI, Nov 15 (Reuters) - The Public Investment Fund (PIF), Saudi Arabia's sovereign wealth fund, nearly tripled its holdings of U.S.-listed stocks to $43.45 billion in the third quarter,. It came as a new challenge against the PGA Tour, after the World Golf Tour and the Premier Golf League. This map represents countries where PIF has carried out dire ct investments. DUBAI, Aug 16 (Reuters) - Saudi Arabias Public Investment Fund (PIF) bought shares in Alphabet (GOOGL.O), Zoom Video (ZM.O) and Microsoft (MSFT.O) as part of a wider pick of U.S. stocks, bringing the market value of the sovereign wealth fund's investment portfolio to about $40.8 billion at the end of the second quarter. personalising content and ads, providing social media features and to 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. There is a scope for oil markets to tighten a bit in case Chinas oil demand and its overall economy recovers, Dale told reporters in a press conference. In support of its considerable domestic investments, the Saudi leadership aims to transform the PIF into a 'global investment powerhouse' by pledging to invest 25% of its assets in international portfolios, split between the International Diversified Pool and International Strategic Investment Pool (PIF, Citation 2017a, p. 21). NEW DELHI:India and Russia are in discussions for a free trade agreement, their ministers said on Monday, with the deal expected to further boost commercial ties that have flourished since Moscows invasion of Ukraine. [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. 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