Tag Archives: PIF

PIF and ATP announce multi-year strategic partnership to accelerate the growth of global tennis. This new partnership focuses on enhancing global tennis and its long-term future, elevating youth and unlocking opportunities for tennis’ next generation. PIF to serve as the official naming partner of the ATP Rankings. Partnership incorporates PIF’s four sponsorship pillars: inclusivity, sustainability, youth and technology. The Public Investment Fund (PIF) and ATP today unveiled a new multi-year strategic partnership, marking a significant shared commitment to enhancing global tennis for players, fans, tournament organizers and stakeholders at all levels of the sport. The major partnership will see PIF become the official naming partner of the ATP Rankings, celebrating players’ journeys and progress across the season and championing excellence as the Year-End No. 1, presented by PIF, is crowned at the Nitto ATP Finals which will take place in Turin, Italy until 2025. PIF will partner with ATP Tour events in Indian Wells, Miami, Madrid, Beijing and the Nitto ATP Finals, in addition to the Next Gen ATP Finals, hosted in Jeddah until 2027. Following the launch of ATP’s Baseline program earlier this year, PIF has further committed to develop and unlock new opportunities for young players and player pathway initiatives, providing a significant boost to the game’s next generation of stars. The ATP partnership forms part of PIF’s broader sponsorship platform, investing in people, projects and partnerships with an emphasis on the brand’s four pillars: inclusivity, sustainability, youth and technology. Together, PIF and ATP will also collaborate to elevate the long-term future of tennis. PIF will actively contribute to ATP’s OneVision Strategic Plan which focuses on driving unity, enhancing fan experiences and leveraging scalable growth opportunities across the …

The Public Investment Fund (PIF) unveiled a multi-year partnership, Electric 360, with Formula E, Extreme E and E1 to support the growth of electric motorsports and their role in advancing the future of electric mobility. The new partnership will draw together initiatives that underscore the power of electric motor sports to drive technological innovation, and revolutionize sustainable transport and future mobility – while leading the way in carbon reduction. PIF also announced the launch of its new brand revamp, which captures PIF’s heritage and essence and embodies its commitment to progress and growth in driving transformation at a historical scale. The new identity will be used at all PIF partnership events, including E360 events, throughout 2024 and beyond. PIF is ranked by Global SWF as one of the top sovereign wealth funds in the world and number 1 in the Middle East for Sustainability among the top 100 sovereign wealth funds globally. The E360 collaboration is in line with PIF’s broader sponsorship platform, bringing to life the brand’s ambition with a focus on four pillars: inclusivity, sustainability, youth, and technology. The partnership announced today will also promote educational opportunities tied to the cutting-edge engineering of electric motor sports, as well as community, social programs and environmental stewardship. With PIF as the sole principal partner to span all three series, this initiative will directly facilitate and accelerate the delivery of: • PIF Electric 360 thought leadership events, bringing together leading industry experts with the brightest minds to drive sustainable mobility change; • STEM initiatives globally to coincide with each championship series; and • Community apprenticeship programs with industry partners in each championship. The partnership will support the mission-driven objectives of all …

Rocco Forte Hotels announced that the Public Investment Fund (PIF) has entered into a definitive agreement to acquire a significant minority stake in the group. The Forte family will retain majority ownership and control. The arrangement sees the Italian entity CDPE Investimenti (CDPEI) selling its entire stake. PIF’s investment will include an element of primary equity which will accelerate the brand’s expansion in both existing and new global markets, building on the group’s track record of growth and development that includes eight new properties opened or committed in recent years. Sir Rocco Forte will remain Executive Chairman, alongside Olga Polizzi, who will continue as Deputy Chairman. Charles Forte, Lydia Forte and Irene Forte will also continue to hold key roles in the business. Completion of the transaction is subject to regulatory approval. Sir Rocco Forte, Executive Chairman of Rocco Forte Hotels, said: “PIF is an excellent partner for us going forward. We have established an extremely good relationship during the course of our negotiations. They share the same vision for the brand and the future strategy of the group with the same ambition to take a long-term view. I look forward to working with PIF to expand the group and improve the high level of service we offer our customers. “We thank CDPEI for having shared the past fruitful eight years during which we both successfully accomplished the mission we shared when we started the journey, having significantly enhanced the value of the company and increased the group’s presence in Italy and across Europe.” Turqi Al Nowaiser, Deputy Governor and Head of International Investments Division at PIF, said: “Our investment in Rocco Forte Hotels reflects PIF’s confidence in both the …

Saudi Entertainment Ventures (SEVEN) is to build SAR 1.1 billion new entertainment destination in Yanbu. SEVEN’s entertainment destination in Yanbu is located along the seafront promenade on Al Nawras Island and has been designed to  play a pivotal role in the city’s local entertainment sector. The entertainment destination will offer guests a wide variety of experiences designed to engage all age groups from within the local community of Yanbu and the surrounding areas. Saudi Entertainment Ventures (SEVEN), a wholly owned subsidiary of the Public Investment Fund (PIF), has awarded the contract to the joint venture (JV) between AL BAWANI CO. LTD and UCC Saudi to build the new entertainment destination in Yanbu and construction is already underway. SEVEN Yanbu is designed by Gensler, a global architecture, design, and planning firm. The architectural form of SEVEN’s entertainment destination is inspired by the city’s heritage as a historic port located on the Kingdom’s western Red Sea coast. The design is a celebration of water, with elements of the beach and the sea threaded throughout. Abdullah AlDawood, Chairman, SEVEN, said: “Our entertainment destination in Yanbu will provide residents and visitors with a wealth of new and exciting experiences while supporting the city’s rapidly developing entertainment sector. SEVEN’s entertainment destination is inspired by Yanbu’s beautiful natural seascape, embodying the city’s the rich history as one of the oldest ports in the Kingdom. SEVEN Yanbu will offer something for everyone.” Fakher Al Shawaf, Chairman and Group CEO, AL BAWANI CO. LTD., said: “We are excited to partner with SEVEN to deliver this project. The design has taken into consideration Yanbu’s coastal location and its history as one of the oldest ports in Saudi. SEVEN’s investment will …

The Public Investment Fund (PIF) announced the establishment of the Kayanee Company (“Kayanee” or “the Company”), a unique lifestyle integrated concept designed to inspire and enhance women’s well-being in Saudi Arabia. Kayanee will focus on women’s health and lifestyle of future generations through six offerings, including fitness, apparel, personal care & treatments, nutrition & diagnostics, healthy eating and learning. Chaired by HRH Princess Reema Bint Bandar, Kayanee will adopt a female-focused approach to all its services, prioritizing mental, physical and social health. In line with the Vision 2030 ambition to create a vibrant society, the company aims to reach over one million consumers. The establishment of Kayanee is part of PIF’s strategy to unlock the capabilities of promising sectors, localize technology, enable the private sector, drive the diversification of the local economy, and contribute to enhancing the quality of life, in line with Vision 2030. In an effort to ensure mass participation, a world-class digital platform will become the main gateway for Kayanee’s customers, providing seamless connection between in-person and online services.  The company will act as a catalyst for the rapid growth of health, well-being and fitness in Saudi Arabia, supporting the development of the industry through collaboration with the private sector and across the value chain. Raid Ismail, Head of MENA Direct Investments at PIF said: “Kayanee will serve to expand Saudi Arabia’s SAR 16 billion fitness and well-being industry. It is a very exciting time for PIF to venture into women’s fitness, wellness and well-being, and Kayanee is well positioned to enable the industry through its integrated offering, which will see the company partner with the growing private sector to create a vibrant society.”

The Public Investment Fund (PIF) announced the establishment of SRJ Sports Investments, a sports investment company that aims to accelerate the growth of the sports sector in Saudi Arabia and MENA. SRJ Sports Investments will invest in acquiring and creating new sports events IP, commercial rights of popular and prominent sports competitions and hosting major global events in Saudi Arabia. These investments are expected to deliver financial returns and localize partnerships domestically and in the MENA region. The new company will target businesses specialized in offering unique fan engagement activities and transformative sports technology across the industry, bolstering Saudi Arabia’s position as one of the world’s leading sports and entertainment destinations. Raid Ismail, Head of MENA Direct Investments at PIF said, “We are thrilled to announce the establishment of SRJ Sports Investments Company to accelerate the growth of the sports sector in Saudi Arabia and the MENA region, by creating and investing in international sports IP, enhancing the fan experience through hosting major global events and investing in transformative technologies. The company will complement other PIF investments in the sports sector, all of which are contributing to a more vibrant society, in line with PIF’s strategy and Saudi Vision 2030.” As a long-term investor, the entertainment, leisure, and sports sector is one of PIF’s 13 priority sectors for investment.

The Public Investment Fund (PIF) announced that it has signed a Memorandum of Understanding (MoU) with the Oman Investment Authority (OIA). The MoU is intended to expand cooperation and investment between the two entities, enabling new and promising investments in the Sultanate of Oman’s (Oman) rapidly growing economy. The MoU provides benefits and incentives for PIF and its portfolio companies, which intend to unlock investment opportunities in Oman. The MoU also represents a significant milestone in PIF’s and OIA’s strategic partnership as it aims to expand PIF’s portfolio in Oman, building on the recent establishment of the Saudi Omani Investment Company (SOIC), a PIF-wholly owned company, which intends to invest up to USD5 billion in promising sectors in Oman. SOIC recently closed its first investment in Oman as a 20% anchor investor in Abraj Energy Services’ IPO and continues to seek other investment opportunities with OIA and its companies. Through this MoU, PIF aims to streamline its investment activities in Oman across a wide range of asset classes and target industries. The OIA is expected to explore attractive investment opportunities for cooperation and partnership with PIF, in addition to providing all aspects of support required in the Omani market.

The PIF-owned Saudi Entertainment Ventures (SEVEN) has announced the launch of construction of an entertainment destination located in Saudi Arabia, with a value of SAR1+ billion. The complex will transform the entertainment landscape of the Tabuk region, with about 78% of its space designated for entertainment, 14% for cafes and restaurants, and 8% for stores. Amenities will include an advanced 12-hole indoor golf course offering bespoke experiences, a modern 10-track bowling alley, and a 10-screen cinema hall, according to a company statement. Abdullah bin Nasser Al-Dawood, Chairman of the Board of Directors of SEVEN, said: “The destination will add a qualitative leap in the entertainment scene of the region by providing a wide choice of entertainment attractions and distinctive experiences.” The project is being designed as an integrated village, with an innovative water tower inspired by the agricultural heritage of the Tabuk region at its center. This will connect to open community spaces, including gardens, parks and sports fields. The development reflects PIF’s strategy to develop and localize a variety of sectors, including entertainment, leisure and sports, to create a more vibrant society and improve the lives of everyone in Saudi Arabia. It also aligns with Vision 2030’s goal of positioning Saudi Arabia among the world’s top tourist destinations.​

His Royal Highness Crown Prince Mohammed bin Salman bin Abdulaziz, Prime Minister and Chairman of the Council of Economic and Development Affairs (CEDA), Chairman of the Public Investment Fund (PIF), announced the masterplan for King Salman International Airport which will boost Riyadh’s position as a global logistics hub, stimulate transport, trade and tourism, and act as a bridge linking the East with the West. The airport project is in line with Saudi Arabia’s vision to transform Riyadh to be among the top ten city economies in the world and to support the growth of Riyadh’s population to 15–20 million people by 2030. King Salman International Airport is expected to be one of the world’s largest airports covering an area of approximately 57 km2, allowing for six parallel runways and including the existing terminals named after King Khalid. It will also include 12km2 of airport support facilities, residential and recreational facilities, retail outlets, and other logistics real estate. The airport aims to accommodate up to 120 million travelers by 2030 and 185 million travelers, with the capacity to process 3.5 million tons of cargo, by 2050. It will become an aerotropolis centered around a seamless customer journey, world-class efficient operations, and innovation. Riyadh’s identity and the Saudi culture will be taken into consideration in the airport’s design to ensure a unique travel experience for visitors and transit travelers. With sustainability at its core, the new airport will achieve LEED Platinum certification by incorporating cutting edge green initiatives into its design and will be powered by renewable energy. The announcement comes as part of PIF’s strategy which focuses on unlocking the capabilities of promising sectors to enhance Saudi Arabia’s efforts in diversifying …