Founder Sam Altman has also approached Mukesh Ambani’s Reliance Industries, reports The Information
Public Investment Fund
Latest in Public Investment Fund
PIF
Saudi wealth fund PIF opens Paris office to boost European investments
French President joins PIF Governor Al-Rumayyan to inaugurate Paris office during ‘Choose France’ summit
Future Investment Initiative
Saudi Arabia’s PIF plans to double European investments to $170bn by 2030
Saudi sovereign wealth fund governor warns EU ‘outrageous’ sustainability rules could drive away investment
BlackRock
PIF strikes deals with BlackRock and Neuberger Berman to boost Saudi capital markets
PIF unveils $5 billion anchor investment in BlackRock infrastructure fund and a $6 billion partnership with Neuberger Berman to deepen Saudi capital markets and boost asset management
aircraft leasing
Saudi aircraft lessor AviLease orders 30 Boeing 737-8 jets
The deal is reinforcing AviLease’s goal of becoming a top 10 global leasing company
Artificial intelligence
Saudi Arabia’s PIF launches HUMAIN to develop AI ecosystem
The Saudi Crown Prince, who will chair the company’s board of directors, stated that HUMAIN will provide a range of AI services, products and tools
Golf
PIF to offer $13mn purse in ladies golf’s revamped Global Series
Five tournaments in Riyadh, Seoul, London, Houston and Shenzhen are part of the PIF Global Series on Ladies European Tour this year
Public Investment Fund
Saudi PIF prices $1.25bn sukuk offering amid strong demand
The Saudi sovereign wealth fund’s dollar-denominated sukuk drew over $9 billion in orders, highlighting strong global investor confidence
Abu Dhabi Investment Authority
GCC royal private offices manage close to $500 billion in assets: Report
Sovereign wealth fund tracker Global SWF has identified 35 RPOs in the GCC, with the UAE home to a vast majority of these offices
PIF
Saudi PIF-backed SURJ Sports Investment acquires minority stake in DAZN
The partnership aims to strengthen Saudi Arabia as a leading market for sports investments, while capitalising on the significant growth in demand for high-quality sports broadcasting.
Abu Dhabi business
New tax in the UAE; Blue Visa launched; Saudi megaproject guide; Dubai Loop announced – 10 things you missed this week
New taxes and visa in the UAE, Elon Musk reveals Dubai Loop plan; Saudi megaprojects revealed, expected Ramadan dates and more top stories this week
Boutique Group
Saudi’s Boutique Group plans to triple luxury palace hotel portfolio, eyes global expansion
The company could also be looking to explore opportunities to export its palace-to-hotel conversion expertise to other markets
Private sector
Private sector acceleration is key to economic diversification and growth
PIF’s example shows how the right ecosystem enables transformation
Boutique Group
EXCLUSIVE: Saudi’s Red Palace hotel hits 60% construction milestone, says Boutique Group CEO
Since 2022, Boutique Group has been tasked with transforming historic Saudi palaces into ultra-luxury hotels
NEOM
Saudi Arabia megaprojects: 19 major developments transforming the kingdom
Saudi Arabia’s multi-billion-dollar projects to diversify its economy, generate jobs, and establish itself as a global commercial hub
Abu Dhabi
Abu Dhabi’s Mubadala overtakes Saudi’s PIF as world’s top sovereign fund investor with over $29bn in 2024
Since 2023, Mubadala’s investments jumped 67% while PIF’s dropped 37%
entertainment destinations
Saudi Arabia’s SEVEN announces new $346mn entertainment destination
Set to be located in Jazan, the flagship destination will span over 60,000 square metres with entertainment and recreational facilities