Saudi Public Investment Fund’s Assets Soar to $913 Billion with 19% Growth in 2024
The Saudi Public Investment Fund (PIF) reported a substantial 19% increase in its assets under management (AUM) for the year 2024, reaching around 3.42 trillion Saudi Riyals (approximately $913 billion). This growth highlights the fund’s continuing success in expanding its investments both locally and internationally.
Since the launch of its Vision Realization Program in 2017, PIF has delivered an average annual total shareholder return of 7.2%. The fund’s revenues also saw a notable rise of 25% during this period.
PIF has actively allocated capital into priority sectors, investing SR 213 billion in 2024 alone. Since 2021, total investments in these sectors have exceeded SR 642 billion. These investments have played a key role in boosting Saudi Arabia’s non-oil gross domestic product (GDP), with PIF’s contributions reaching SR 910 billion from 2021 to 2024. Currently, the fund represents 10% of the Kingdom’s non-oil economy.
The portfolio of companies under PIF’s management grew to 225 by the end of 2024, including 103 companies founded by the fund itself. This expansion underscores PIF’s commitment to diversifying the economy and supporting new business ventures.
On the global stage, PIF has continued to broaden its international investment portfolio, focusing on impactful and sustainable investments that foster partnerships across key global markets.
To support its ambitious investment plans, PIF diversified its funding sources by securing public loans totaling approximately SR 36.9 billion ($9.8 billion) and private loans worth around SR 26 billion ($7 billion). This strategy strengthens the fund’s financial stability and capacity to drive the Kingdom’s economic transformation.
In summary, 2024 marked another year of robust growth and strategic investments for the Saudi Public Investment Fund, reinforcing its role as a driving force behind Saudi Arabia’s economic diversification and international financial presence.
Source: Saudi Press Agency (SPA), QNA, and Saudi Public Investment Fund’s 2024 Annual Report
