Latest news with #portfolioCompanies
Zawya
19-05-2025
- Business
- Zawya
PIF chief calls for ecosystem mindset among directors at second Directors' Gathering
RIYADH — Public Investment Fund (PIF) Governor Yasir Al-Rumayyan called on directors to treat PIF and its 220 portfolio companies as a single, integrated ecosystem, during the second edition of the PIF Directors' Gathering held Monday in Riyadh. Bringing together over 1,000 directors and executives from Saudi Arabia and abroad, the forum aimed to align strategic priorities and foster collaboration across the PIF network. Al-Rumayyan emphasized that cooperation among the portfolio companies should be considered a key measure of success. The event focused on optimizing board performance and enhancing synergies across PIF's portfolio — which includes 103 companies established directly by the sovereign fund. Discussions centered on redefining board impact amid national transformation, strengthening oversight in a changing risk environment, and addressing the governance challenges posed by AI and emerging technologies. Al-Rumayyan outlined three main board responsibilities: setting strategy, ensuring governance frameworks for management, and performance monitoring. He stressed that embracing these roles collectively can help transform macroeconomic challenges into leadership and growth opportunities. The gathering is part of PIF's broader corporate excellence strategy, including the work of its Center for Governance, established in 2020. The center offers development programs, advisory services, and thought leadership to support effective governance across both PIF-owned entities and the wider Saudi private sector. The fund's governance framework promotes merit-based hiring, accountability, and board-management clarity. It also aims to position Saudi Arabia as a global business destination and innovation hub. Since its launch in 2023, the PIF Directors' Gathering has served as a platform for enhancing boardroom excellence and aligning long-term objectives across the Kingdom's investment landscape. © Copyright 2022 The Saudi Gazette. All Rights Reserved. Provided by SyndiGate Media Inc. (
Arab News
19-05-2025
- Business
- Arab News
PIF convenes 1,000 global executives in Riyadh to shape next phase of governance
JEDDAH: Saudi Arabia's Public Investment Fund gathered over 1,000 top executives in Riyadh for its second Directors' Gathering, unveiling new governance priorities amid rapid portfolio expansion. The event, which brought together representatives from approximately 220 portfolio firms — including over 100 established by PIF itself — focused on enhancing board performance, aligning strategic priorities, and promoting cross-sector synergies to deepen collaboration across the fund's growing portfolio. Discussions were centered around redefining board impact in the context of national transformation, strengthening oversight in a changing risk landscape, and navigating new governance challenges posed by artificial intelligence and emerging technologies, according to a press release. The Directors' Gathering, a knowledge-sharing platform for #PIF portfolio companies, featured majlis sessions and panels on national transformation, succession planning and risk management. — Public Investment Fund (@PIF_en) May 18, 2025 The event comes as PIF accelerates its dual mandate of advancing Saudi Arabia's economic diversification and generating long-term global returns. Since its 2015 transformation, the fund has grown into a globally influential investor, managing $941.3 billion in assets in 2024 and playing a key role in Vision 2030. Speaking to the delegates, PIF Governor Yasir Al-Rumayyan, highlighted PIF's vision and that the roles of boards include three main priorities: brainstorming and setting strategy, ensuring the right governance frameworks are in place for management, and monitoring performance, with a view to the ever-changing macro-economic context and evolving innovations. 'He stressed that this could transform challenges into opportunities to lead, grow and innovate,' the release added. H.E. Yasir Al-Rumayyan, Governor of #PIF, gave the opening remarks at the PIF Directors' Gathering. — Public Investment Fund (@PIF_en) May 18, 2025 Al-Rumayyan also urged directors to view PIF and its 220 companies as a unified ecosystem, emphasizing the importance of leveraging the group's collective capabilities. He added that collaboration should be considered the primary measure of success. The Directors' Gathering, launched in 2023, is a key pillar of PIF's corporate excellence agenda and serves as a platform for knowledge exchange and governance development not only within its portfolio but across Saudi Arabia's business ecosystem. PIF was ranked as the world's second most active sovereign investor by deal value in February, committing $3 billion in global transactions, according to Global SWF, a data platform tracking sovereign wealth fund activity. In a fireside chat titled 'Aligning the Economic Vision,' Minister of Economy and Planning Faisal Al-Ibrahim, who also sits on the the sovereign wealth fund's board, said the existence of PIF portfolio companies and the related ecosystem is in itself a form of resilience, according to a post on the fund's official X account. H.E. Faisal Alibrahim, Minister of Economy and Planning, and #PIF Board Member, attended a fireside chat at the #PIF Directors' Gathering on 'Aligning the Economic Vision'. — Public Investment Fund (@PIF_en) May 18, 2025 Al-Ibrahim added: 'We are transforming our economy and restructuring the Saudi economy to create more engines of growth, more drivers of progress, and a diversified set of growth sources.' In another fireside chat titled 'Evolving Investment Strategy,' Head of the Global Capital Finance Division and Head of the Investment Strategy and Economic Insights Division at PIF, Fahad Al-Saif, said the fund is responsible for investing in assets that generate maximum economic impact for Saudi Arabia while also maximizing financial returns for the fund. 'This is done within a robust framework, across duration for us to become a generational fund in the future,' he said in another X post by PIF. Fahad AlSaif, Head of the Global Capital Finance Division and Head of Investment Strategy and Economic Insights Division at #PIF participated in a fireside chat on 'Evolving Investment Strategy: A Focus on Performance' at the PIF Directors' Gathering. — Public Investment Fund (@PIF_en) May 18, 2025
Zawya
19-05-2025
- Business
- Zawya
PIF brings together more than 1,000 board members and executives of its portfolio companies from around the world for Directors' Gathering
Board members represent approximately 220 portfolio companies, including 103 established by PIF to help drive Saudi Arabia's economic transformation and global economies World-class PIF Center for Governance is instrumental in developing directors and optimizing board performance RIYADH – PIF has held the second edition of the PIF Directors' Gathering, bringing together more than 1,000 directors and executives from Saudi Arabia and around the world to align on priorities between PIF and its portfolio companies, as well as to exchange insights and enrich the PIF ecosystem. The PIF Directors' Gathering focused on optimizing board performance and fostering collaboration among PIF portfolio companies and their stakeholders. Held in Riyadh, the event involved directors and executives from approximately 220 PIF portfolio companies, of which PIF has created and established 103, in line with part of its mandate to drive Saudi Arabia's economic transformation. Speaking to the delegates, PIF Governor H.E. Yasir Al-Rumayyan, highlighted PIF's vision and that the roles of boards include three main priorities: brainstorming and setting strategy, ensuring the right governance frameworks are in place for management, and monitoring performance, with a view to the ever-changing macro-economic context and evolving innovations. He stressed that this could transform challenges into opportunities to lead, grow and innovate. In his speech, he also stressed the importance of collaboration among companies in the PIF ecosystem, reminding delegates that collaboration should be seen as the main measure of success. He urged directors to begin seeing PIF and its 220 portfolio companies as a single ecosystem and use this thinking to benefit from the variety of strengths and experiences across PIF and its companies. During the day-long forum, directors and executives discussed topics such as redefining board impact in the context of national transformation, continuously strengthening oversight in a changing risk landscape, planning for management succession, and navigating the governance issues which AI and other burgeoning technologies present. Delegates also emphasized the important of a growth mindset as well as the potential for synergies given the untapped potential in the PIF ecosystem and the private sector. PIF offers a comprehensive governance guide for its fully owned companies, to ensure that portfolio companies work according to the best practices and standards. PIF's strategy for portfolio companies stresses merit-based hiring and quality performance. The strategy also clarifies the separate roles and duties of management and board to enable creativity and accountability. The forum is part of PIF's wider corporate excellence program, which includes the Center for Governance, founded in 2020. The center is a dedicated platform offering board members, from both within and outside the PIF ecosystem, guidance and development opportunities with the aim of using corporate governance to create sustainable value in Saudi Arabia and globally. The center provides its services through three main business lines: development programs, advisory services, and research and thought leadership. It equips directors and company secretaries with the knowledge and tools they need to ensure and build on effective governance through more than 70 tailored programs on relevant subjects including IPO preparation, sustainability, board effectiveness and audit oversight. PIF's work to spread best practice in corporate governance is designed to spur innovation throughout the local private sector and make Saudi Arabia an ever more attractive place for international companies to do business. As one of the world's most impactful investors, PIF enables the creation of key sectors and opportunities that help shape the global economy while driving Saudi Arabia's economic diversification. Launched in 2023, the PIF Directors' Gathering serves as a cornerstone for collaboration, insight-sharing, and advancement of boardroom excellence, not only across PIF and its portfolio companies but also more broadly. It contributes to the dialogue on effective governance and board leadership at both regional and global levels. About PIF PIF is the investment engine driving economic transformation for Saudi Arabia and the world. With an ambitious program to deliver Vision 2030, PIF invests in projects, companies and partners to diversify the Saudi economy, stimulate growth in every major sector, and create new opportunities for investment and employment. And as a global investor and catalyst of change, PIF actively partners with the most pioneering organizations across the world to accelerate their growth, and transfer the technology and knowledge needed to build industry ecosystems of the future. Since 2017, PIF has established 103 companies and is driving the transition to a more sustainable economy through strategic investments and partnerships across the Saudi public and private sector. PIF is laying the foundations for local and international partners to invest in the economic and societal transformation of Saudi Arabia.
