A “shopping list is being readied” for potential investments by Saudi Arabia’s Public Investment Fund in healthcare, technology, and logistics companies around the world as the coronavirus pandemic creates potential opportunities for bargain investments, according to a Financial Times report.
A banking executive in the region and other executives told the newspaper that companies poised to outperform once the global economy rebounds will be targeted for share acquisitions and other investments by the PIF and other regional wealth funds, the report notes.
A senior Saudi official told the Financial Times that the kingdom had set up a dedicated team to look at the “midterm and long-term, downside and upside” of the global crisis, while the $320bn PIF, chaired by Crown Prince Mohammed bin Salman, pursued a strategy that was a “mix of strategic and opportunistic.”
Earlier this month, Saudi Arabia’s Public Investment Fund disclosed that it had acquired an 8.2% stake in Carnival Corporation & plc, operator of Carnival Cruise line, as of March 26.
[Click here to read the story from the Financial Times (paywall)]
