Logo of Public Investment Fund (PIF)
The Public Investment Fund (PIF) is the world’s most active sovereign wealth fund in terms of investments in 2023.
The fund invested $31.6 billion last year, a rise of 33%, compared to $20.7 billion in 2022, according to the Sovereign Wealth Fund Institute (SWFI).
PIF invested this amount through 49 transactions. In a short span of eight years since its reformulation, PIF has become a powerhouse both at home and overseas, with the objective of advancing Vision 2030 and becoming the world’s largest SWF by 2030, the report said.
In April, the fund paid $4.9 billion for the US gaming company Scopely through its subsidiary Savvy Games Group. In August, it acquired Standard Chartered’s aircraft leasing division, AviLease, in a $3.6 billion deal and purchased Saudi Basic Industries Corp.'s steel unit Hadeed for $3.3 billion.
The variety of deals shows the unparalleled bandwidth and reach of PIF and its subsidiaries, which are forming a wide net to capture any value-add for Saudi Vision 2030, the report said.
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Top 10 SWFs by Investment Value in 2023 ($ bln) |
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Fund |
Country |
Investment Value ($ bln) |
|
PIF |
Saudi Arabia |
31.6 |
|
GIC |
Singapore |
19.9 |
|
Mubadala |
UAE |
17.5 |
|
ADIA |
UAE |
13.2 |
|
CPP |
Canada |
9.4 |
|
BCI |
Canada |
7.3 |
|
Temasek |
Singapore |
6.3 |
|
Qatar Investment Authority |
Qatar |
5.9 |
|
ADQ |
UAE |
5.8 |
|
OTPP |
Canada |
5.3 |
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