The Clap
The value of the Public Investment Fund’s assets rose to approximately $941 billion during the current month of March.
This is according to the specialized institution “Global SWF” which tracks sovereign wealth fund investments around the world.
What
The assets of the Saudi sovereign wealth fund jumped after Crown Prince Mohammed bin Salman announced the transfer of 8% of Saudi Aramco’s shares.
This transfer was from government ownership to wholly-owned company portfolios of the fund.
The percentage of state-owned shares in the company will become 82.186% of its total shares.
So What
The value of the stake transferred to the Public Investment Fund is estimated at $164 billion.
This makes it the “fifth largest sovereign wealth fund globally” in terms of asset size.
The fund’s assets had reached around $776.7 billion by the end of 2023.
Now What
The Kingdom’s Sovereign Wealth Fund aims to double its asset size to exceed 4 trillion riyals in 2025.
And to reach 10 trillion riyals, according to “Vision 2030.”
