Saudi Arabia’s sovereign wealth fund is set to increase its annual deployment of capital to $70 billion a year after 2025.
The Public Investment Fund (PIF) currently puts $40 billion to $50 billion of capital to work annually. That’s set to increase after 2025, the fund’s governor, Yasir Bin Othman Al-Rumayyan, said Thursday at the FII Priority conference in Miami.
PIF, which manages more than $700 billion, allocates more than 70% of its investments in Saudi Arabia. It’s targeting an allocation of 20% to 25% for international investments, with the absolute number increasing over time, Al-Rumayyan said during the event.
The fund invested about $100 billion in the U.S. between 2017 and 2023, creating more than 103,000 jobs there, he said.
PIF has invested heavily in golf, and in June the PGA Tour proposed a merger with Saudi-backed LIV Golf.