Emaar The Economic City (Emaar EC) has successfully obtained a loan of 1 billion riyals, equivalent to $267 million, from the Public Investment Fund (PIF) to support project costs and drive growth. This loan is part of the company’s Capital Optimisation Plan. The new financing represents an amendment to a prior agreement made in 2023...
Tag: PIF
PIF and Goldman Sachs Asset Management to Collaborate on Investments in Saudi Arabia and GCC
Saudi Arabia’s Public Investment Fund (PIF) and Goldman Sachs Asset Management have recently signed a non-binding memorandum of understanding (MoU). This partnership will allow PIF to serve as a strategic anchor investor for new private credit and public equity strategies in Saudi Arabia and the wider Gulf Cooperation Council (GCC) region. An anchor investor is...
Saudi Arabia’s PIF Invests $200 Million in First Globally Listed Saudi ETF
The Public Investment Fund (PIF), Saudi Arabia’s sovereign wealth fund, has invested $200 million in the first internationally listed exchange-traded fund (ETF) centered on Saudi Arabia. The fund, known as the SPDR J.P. Morgan Saudi Arabia Aggregate Bond UCITS ETF, is managed by State Street Global Advisors. The announcement was made during a bell-ringing ceremony...
Mubadala Tops Global Wealth Fund Spending in 2024
Abu Dhabi’s Mubadala Investment Company has taken the lead as the world’s biggest spender among sovereign wealth funds in 2024. The fund deployed $29.2 billion last year, a sharp increase from $17.5 billion in 2023, according to a report by Global SWF, an industry tracker. This marks a significant shift, as Saudi Arabia’s Public Investment...