Saudi Arabia’s PIF joins Russia and China in $2.5bn ‘trilateral’ investment fund

Saudi Arabia’s PIF joins Russia and China in $2.5bn ‘trilateral’ investment fund
Participants attend the last day of the Future Investment Initiative FII conference in the Saudi capital Riyadh on October 25, 2018. (AFP)
Updated 26 October 2018

Saudi Arabia’s PIF joins Russia and China in $2.5bn ‘trilateral’ investment fund

Saudi Arabia’s PIF joins Russia and China in $2.5bn ‘trilateral’ investment fund
  • Saudi Arabia’s Public Investment Fund (PIF) is to join forces with Russia's RDIF
  • PIF will contribute $500 million to the investment fund, raising total capital under management to $2.5 billion

RIYADH: Saudi Arabia’s sovereign wealth fund Public Investment Fund (PIF) is to join forces with Russian sovereign wealth fund RDIF as a new partner in the joint Russia-China Invesment Fund, it was announced on Thursday.

As part of the agreement, Saudi’s PIF will contribute $500 million to the investment fund, raising its total capital under management to $2.5 billion, Russia’s RDIF added in a statement.