PIF transfers $12B in video-game stocks to Savvy: Report

PIF shifts gaming investments to Savvy to strengthen oversight of e-sports, video game holdings

The Public Investment Fund (PIF) is transferring nearly $12 billion worth of gaming company shares—including stakes in companies such as Nintendo and Bandai Namco—to its subsidiary, Savvy Group, Bloomberg reported, citing a document it reviewed.

Once the transfers are completed, Savvy is expected to hold nearly 10% stakes in companies such as Koei Tecmo, NCSoft, Nexon Co., and Square Enix Holdings Co.

The report noted that Savvy is not a party to the $55 billion Electronic Arts acquisition led by a consortium under PIF, according to an informed source.

PIF’s shares in Take-Two Interactive, totaling 11.4 million shares, have been transferred to a company fully owned by Savvy, according to a disclosure filed by the fund with the US Securities and Exchange Commission.

The source explained that Savvy will continue the fund’s non-interventionist investment approach and does not plan to become an active investor.

Separately, Ammar Batkhuu, Savvy’s spokesperson, said the transfer had been planned for a long time and will shift the stewardship of the fund’s games investments to Savvy, given its position as a leading games organization for the fund and a key component of the National Gaming and Esports Strategy. He emphasized that there are no plans to change the investment strategy.