The Saudi Public Investment Fund (PIF) announced on Thursday, February 24, that it has opened three new subsidiary companies, with offices in London, New York, and Hong Kong.
The moves are said to be in line with the sovereign fund’s continued expansion, and are expected to assist in the fund’s future international growth.
The PIF is an active investor in several innovative and transformational industries and businesses — including in the UK, Europe, the US, Asia, and South America.
The new subsidiary companies’ offices are expected to enable the fund to continue to work with its partners across these regions.
They will also reportedly help transform global economies and drive the economic transformation of Saudi Arabia.
The opening of the subsidiary companies’ offices is said to be in line with the fund’s growth strategy.
It also apparently reflects the PIF’s commitment to its global partnerships and in investing in sectors, industries, and companies that are expected to shape the economies of the future.
The PIF’s ongoing international expansion comes as the fund reportedly continues to make strong progress against its Strategy 2021-2025.
As part of this strategy, the PIF plans to grow its assets under management to $1.07 trillion by the end of 2025.
All this, while it continues to create new sectors, companies, and jobs.
A key element of PIF’s success has reportedly been the economic partnerships it has developed with many of the world’s leading investors and businesses.