{"id":86700,"date":"2024-05-30T00:00:00","date_gmt":"2024-05-30T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/05\/30\/another-day-more-pif-spotlight\/"},"modified":"2024-05-30T00:00:00","modified_gmt":"2024-05-30T00:00:00","slug":"another-day-more-pif-spotlight","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/05\/30\/another-day-more-pif-spotlight\/","title":{"rendered":"Another day, more PIF spotlight"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It is a mixed bag for Saudi in the foreign press today<\/strong>, with PIF\u2019s spending shift, the Kingdom\u2019s renewable energy ambitions, potential weaponry from the US, and an expulsion of Iranian media crew in Saudi all making the rounds. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>#1- The Public Investment Fund\u2019s renewed appetite for domestic spending <\/strong><strong>has <\/strong><strong>international<\/strong><strong> asset managers worried it may be deploying less capital abroad<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-29\/saudi-arabia-wall-street-pe-firms-on-edge-over-pif-s-domestic-shift\" style=\"\" rel=\"noopener\">Bloomberg reports<\/a> citing people it says are familiar with the matter. With a USD multi-bn pipeline of giga-projects at home \u2014 think USD 500 mn development Neom \u2014 the deep-pocketed wealth fund may be shifting its focus away from passive outflows into \u201cglobal private equity, infrastructure and hedge funds,\u201d the sources said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>The PIF is ramping up its annual deployment capacity to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/475001c6-fc7c-4a72-accb-c8d4802629a6\/pif-looks-to-ramp-up-annual-deployment-capacity-to%253cmark%253e-usd-70-bn%253c%2Fmark%253e,-positions-saudi-as-global-ai-hub\" style=\"\" rel=\"noopener\">USD 70 bn<\/a> a year starting 2026, out of which 25% are set to be earmarked for international investment, and c. 70% earmarked to drive economic growth and diversification at home, governor Yasir Al Rumayyan had said at the <a target=\"_blank\" href=\"https:\/\/fii-institute.org\/conference\/fii_priority-in-miami-usa-2024\/\" style=\"\" rel=\"noopener\">FII Priority conference in Miami<\/a> in February. This is a big step-up from its current annual spending clip of USD 40-50 bn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What could be on Rumayyan\u2019s mind:<\/strong> The PIF could opt to focus on injecting capital in leading firms abroad, two unnamed executives at two private equity firms told the business news service. It could also explore investments in local companies with a solid market base, they said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Meanwhile, <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.forbes.com\/sites\/pauliddon\/2024\/05\/29\/the-weapon-saudi-arabia-might-buy-if-it-secures-defense-pact-with-us\/?sh=2c6be7c45354\" style=\"\" rel=\"noopener\">Forbes<\/a><\/strong><strong> claims to know which advanced weaponry Saudi may be getting<\/strong> <strong>out of its pending <\/strong><strong>defense pact with the US<\/strong>, basing its predictions on Saudi\u2019s previous military purchase history from the US. Those include the F-15SA Saudi Advanced fighters which was the most advanced multirole strike fighter until recently or the more advanced F-15EX Eagle II developed by the US for Qatar. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- The Kingdom\u2019s ambitious plan to rely on renewables for 50% of its electricity <\/strong><strong>generation by <\/strong><strong>2030<\/strong> is the subject of a piece in <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/05\/29\/business\/saudi-arabia-renewable-energy-solar-wind.html?searchResultPosition=1\" style=\"\" rel=\"noopener\">The New York Times<\/a> exploring Saudi\u2019s renewables potential the obstacles the Kingdom may face on the road. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The PIF is ramping up its annual deployment capacity to USD 70 bn a year starting 2026<\/p>\n","protected":false},"author":1,"featured_media":86701,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2561],"tags":[10,2093,1151,229,2094,1539],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-86700","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-saudi-in-the-news","tag-enterpriseam-ksa","tag-oleksandr-usyk","tag-public-investment-fund-pif","tag-saudi-in-the-news","tag-tyson-fury","tag-yasir-al-rumayyan","wpautop","entry"],"acf":{"mongo_id":"5416e4f3-ab0d-414f-8af2-d711ca917ed3","order":"8","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/5\/2526.jpg","photo_position":"above","homepage_title":"","full_issue_title":"PIF is once again in the spotlight in the foreign press","related_issue":[86685],"teaser":"The PIF is ramping up its annual deployment capacity to USD 70 bn a year starting 2026","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.bc360692-007d-435f-b3de-6acf34b40c56.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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