Saudi Arabia’s Public Investment Fund (PIF) now has assets worth $607.42 billion and is the 6th largest sovereign wealth fund in the world, according to latest data from the Sovereign Wealth Fund Institute.
Data released by the Sovereign Wealth Fund Institute noted that China Investment Corp. topped the list with $1.350 trillion in assets, followed by Norway Government Pension Fund Global and Abu Dhabi Investment Authority with assets worth $1.13 trillion and $790 billion respectively.
Kuwait Investment Authority ranks fourth with $750 billion, while Singapore’s GIC Private Limited is placed fifth, with assets of $690 billion.
The information was shared by a report in Arab News, which noted that the PIF owns 71 companies in 10 different sectors and has created more than 500,000 direct and indirect jobs.
The PIF, which is leading many of the efforts of the diversification of the Saudi economy as part of Vision 2030, says it has a detailed strategy to increase the fund’s assets to reach between $2 to $3 trillion by the end of this decade.
