Saudi wealth fund PIF’s profit doubles on higher revenue

The Saudi Public Investment Fund (PIF) reported a more than doubling of its profit last year, reaching $17 billion for the 12-month period ending December 30. This growth was driven by increased revenue, which rose by 9 percent year-on-year to $120 billion. The PIF managed over $900 billion in assets under management, marking a 4.2 percent decline in total shareholder return for 2025.

However, its annualized return since the Vision Realisation Programme began stood at 5.8 percent. Local investments made up 76 percent of the fund's assets, with international and treasury investments accounting for the remaining 20 percent and 4 percent, respectively. PIF's chief of staff, Maram Al Johani, emphasized the fund's role in Saudi Arabia's economic development and diversification, highlighting its contributions to the country's non-oil GDP and cumulative investments from 2021-2025.

The fund also expanded its international presence by opening new offices in Europe and Asia and making targeted investments in key markets, resulting in a 12 percent growth in international investments. The PIF is a key player in Saudi Arabia's Vision 2030 initiative, investing in sectors such as finance, healthcare, sports, renewables, technology, automotive, property, aerospace, defence, entertainment, leisure, retail, and mining.

The fund's domestic holdings include major companies like Maaden, Sabic, and the Saudi National Bank, and it recently signed agreements with Goldman Sachs, Macquarie Asset Management, and SACE to drive capital mobilization. In 2025, PIF also signed a $55 billion acquisition of Electronic Arts and an agreement with the US Export-Import Bank worth up to $15 billion, making the United States its largest international market.