Saudi Arabia’s head of its Public Investment Fund, Yasir Al-Rumayyan, said the fund is looking to make more value investments in the weeks and months to come with global markets down as a result of the Coronavirus pandemic.
Yasir Al-Rumayyan is head of the PIF.
“We are looking into any opportunity,” Yasir Al-Rumayyan, governor of the $320 billion fund, said at a virtual event on Thursday held by Saudi Arabia’s Future Investment Initiative, Bloomberg and Reuters report.
“Once the economy is open and up, I think we will see a lot of opportunities,” he said, giving airlines, energy and entertainment companies as examples.
Earlier this month, the PIF amassed stakes worth roughly $1 billion in four major European oil companies, buying stakes in Equinor ASA, Royal Dutch Shell PLC, Total SA, and Eni SPA, all energy companies that had seen their value lessened during the coronavirus pandemic.
The deep-pocketed sovereign wealth fund also bought a large stake in battered cruise line company Carnival in late March.
