Saudi Arabia’s PIF aims to manage over $400 billion in assets by 2020

Saudi Arabia's PIF aims to manage over $400 bln in assets by 2020." (SPA)
Updated 26 October 2017

Saudi Arabia’s PIF aims to manage over $400 billion in assets by 2020

RIYADH: Saudi Arabia’s Public Investment Fund (PIF) aims to increase its assets under management to 1.5 trillion riyals ($400 billion) by 2020 as part of the country’s Vision 2030, an economic reform plan aimed at boosting private-sector growth and developing non-oil industries.
The country’s main sovereign wealth fund, which is expected to receive proceeds from the planned sale of 5 percent of state oil company Saudi Aramco’s shares, has currently around $230 billion worth of assets under management.
PIF plans to create 20,000 direct domestic jobs, and 256,000 construction jobs by 2020. This will increase PIF’s contribution to Saudi Arabia’s gross domestic product from 4.4 percent to 6.3 percent, it said in a statement on Wednesday, during a huge investment conference in Riyadh arranged by the fund.
Investments will be in sectors such as real estate and infrastructure as well as in new areas of activity in the Saudi economy through the establishment of companies such as the Saudi Arabian Military Industries company and the Saudi Real Estate Refinancing Company.
One of the biggest tasks under PIF’s responsibility is the delivery of a $500 billion plan to build a business and industrial zone extending into Jordan and Egypt.
PIF will also seek to maximize value in the fund’s existing assets and has set a new target to increase total shareholder return to 4-5 percent from 3 percent, it said on Wednesday.
“The PIF Program represents a vital milestone as we work toward realizing Vision 2030,” Prince Mohammad bin Salman Al-Saud, the plan’s architect, said in a statement.
Outside of Saudi Arabia, PIF’s investments will be in a number of assets such as fixed-income, public equity, private equity and debt, real estate, infrastructure and alternative investments such as hedge funds, the fund said.


Abdulrahman Al-Jadhai, CEO of Al-Elm Information Security Co.

Dr. Abdulrahman Al-Jadhai
Updated 11 min 48 sec ago

Abdulrahman Al-Jadhai, CEO of Al-Elm Information Security Co.

  • Al-Jadhai gained a Ph.D. in computer science from the University of Pittsburgh, Pennsylvania

Dr. Abdulrahman Al-Jadhai has been CEO of Al-Elm Information Security Co. since 2012.
The company offers a wide range of ready-made and customized digital solutions in areas ranging from consulting to training and support.
It recently signed a share purchase agreement to acquire 100 percent of the Saudi Company for Exchanging Digital Information (Tabadul) from the Public Investment Fund (PIF).
Al-Jadhai believes the deal is an important milestone for the company as it expands its products and digital custom solutions in the transport and finance sectors.
It also offers an opportunity to develop national logistics services that meet current market requirements and the need of beneficiaries, he said.
Al-Jadhai is a board member of several institutions in the Kingdom, chair of the advisory board of the Central First Health Cluster in Riyadh region, and a board member of the Taibah Valley company.
He joined Al-Elm in 2006 as a manager where he served for more than two years before becoming strategy and planning manager in 2008, a position he held for three years until 2011.
Later, he served as e-services manager for less than a year between 2011 and 2012.

He also worked at the Saudi Telecom Co. as an infrastructure manager between 2002 and 2005.
Al-Jadhai gained a Ph.D. in computer science from the University of Pittsburgh, Pennsylvania. He obtained a master’s degree in the same major at Michigan State University.
He received a bachelor’s degree in computer engineering from King Saud University in 1989.