3 days ago
PIF Grows $913bn Global Portfolio
TDT | Manama
Saudi Arabia's Public Investment Fund (PIF) closed 2024 with a 19% surge in assets under management (AuM), reaching $913 billion, while expanding its global investment footprint and reinforcing its role as a driver of the Kingdom's economic transformation.
Strong performance
According to its 2024 Annual Report, PIF posted a 25% increase in total revenue and maintained a strong cash balance. Since 2021, cumulative investments in priority sectors have exceeded $171 billion, contributing $243 billion to Saudi Arabia's real non-oil GDP between 2021 and 2024.
Chief Financial Officer Yasir A. AlSalman said the results were underpinned by solid financial health and robust capital deployment of $56.8 billion in 2024 alone.
Economic diversification
Acting Chief of Staff and Secretary General to the Board Maram Al Johani said PIF now accounts for 10% of the nation's non-oil economy. By year-end, it held stakes in 225 portfolio companies, having created and established 103 of them.
The fund also marked a transition from digital transformation to digital leadership, completing 58 digital projects, launching 15 new applications, and automating more than 477 processes.
Global recognition
PIF's international portfolio expanded through strategic partnerships and investments in cutting-edge technology. In 2024, it raised $9.83 billion in public debt and $7 billion in private debt, with Moody's upgrading its rating to Aa3 and Fitch affirming an A+ rating, both with stable outlooks.
The fund achieved a 96% score on Global SWF's 2024 Governance, Sustainability and Resilience Scoreboard and, in 2025, tied for first place globally with a score of 100%. Brand Finance ranked PIF the most valuable and fastest-growing brand among sovereign wealth funds, with an A+ rating.
