Major restructure turns PIF into powerhouse for diversity
Arabnewssocial16 Aug, 2020News
The Saudi Public Investment Fund (PIF) was set up almost 50 years ago as a separate arm of the Ministry of Finance, but it was completely restructured in 2015 and joined the club of top sovereign wealth funds. In less than 5 years, according to a recent ranking released by the Sovereign Wealth Funds Institute (SWFI), the PIF has moved up to 8th position among the world’s sovereign wealth funds with a net worth of about $360 billion.
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