Saudi Arabia’s Public Investment Fund has bought portions of some ‘monster’ organizations around the globe. The wealth fund has gone deal chasing during the current economic disturbance, totalling about $7.7 billion worth of shares.
The $300 billion Public Investment Fund purchased stakes in worldwide corporate pioneers, for example, Boeing, Facebook, Disney, Marriott and Starbucks. It additionally put resources into two major US banks, Citigroup and Bank of America, and took possessions in oil mammoths BP, Total and Royal Dutch Shell.
With this investment basis, the Public Investment Fund depicted itself as an investor with a drawn out skyline. Accordingly, the PIF effectively look for key open doors both in Saudi Arabia and universally that can possibly create noteworthy long haul returns while further profiting the individuals of Saudi Arabia and driving the nation’s economic development.
According to authorities, the purchasing binge reflects confidence on the part of the PIF that organizations seriously hit by the pandemic would recoup rapidly.
PIF’s best course of action was an interest in BP, about 34 million offers esteemed at $827 million, followed by the Boeing stake for $713 million. Facebook and Citigroup stakes were esteemed at about $521 million each.
Lamentably, the new PIF portfolio didn’t go the path of the travel, entertainment and hospitality industries, with shareholdings in the Marriott hotel chain.
The Public Investment Fund also has the enthusiasm for technology with interests in Cisco, Qualcomm and Broadcom, and in pharmaceuticals by means of a stake in Pfizer.