The Public Investment Fund (PIF; Arabic: صندوق الإستثمارات العامة) is the sovereign wealth fund of Saudi Arabia. It is among the largest sovereign wealth funds in the world with total estimated assets of US$620 billion (£514 billion). It was created in 1971 for the purpose of investing funds on behalf of the Government of Saudi Arabia. The wealth fund has been controlled by Crown Prince Mohammed bin Salman, Saudi Arabia's de facto ruler since 2015. The present governor of PIF is Yasir Al-Rumayyan, serving under bin Salman. The lack of transparency and close control by the Saudi Arabian government has generated much controversy. More information...
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