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Saudi Arabia’s Public Funding Fund (PIF) grew its belongings underneath administration by 19 per cent to $913bn in 2024, because the Kingdom’s sovereign wealth fund accelerated its function in driving financial transformation and diversifying the nationwide economic system.
The 2024 Annual Report highlights document funding exercise, international recognition, and a $243bn contribution to Saudi Arabia’s non-oil GDP since 2021.
PIF deployed $56.8bn throughout strategic sectors in 2024, bringing whole funding since 2021 to greater than $171bn.
PIF development in Saudi Arabia
The fund now manages 225 portfolio firms, having created 103 of them, and continues to ascertain nationwide champions throughout sectors together with tourism, vitality, infrastructure, and know-how.
PIF additionally accelerated its digital transformation, finishing 58 digital initiatives, launching 15 new functions, and automating greater than 477 processes.
Synthetic intelligence and automation are actually central to operations, enabling sooner decision-making and new worth creation.
PIF’s worldwide investments continued to develop, focusing on high-impact alternatives in progressive firms, strategic sectors, and rising applied sciences.
To assist this, the fund diversified its financing sources — elevating $9.83bn in public debt and $7bn in personal debt — and maintained a robust liquidity place.
PIF’s credit score energy was recognised globally: Moody’s upgraded its ranking to Aa3 with a steady outlook, whereas Fitch affirmed an A+ ranking, additionally with a steady outlook.
In 2024, PIF achieved a 96 per cent rating on the World SWF Governance, Sustainability and Resilience (GSR) Scoreboard, and in 2025 tied for first place globally with 100 per cent, rating amongst 200 sovereign buyers.
A Model Finance examine named Saudi Arabia’s PIF probably the most invaluable and fastest-growing model amongst all sovereign wealth funds worldwide, awarding it an A+ model ranking.
Yasir A. Al Salman, PIF’s Chief Monetary Officer, mentioned: “The annual report for 2024 is marked by vital development underpinned by stable monetary well being, as PIF additional established its place as one of many world’s largest sovereign wealth funds.
“PIF’s portfolio delivered year-on-year development of belongings underneath administration of 19 per cent to achieve $913bn. Capital deployment throughout precedence sectors reached $56.8bn in 2024, bringing cumulative funding for the reason that starting of 2021 to greater than $171bn.
“PIF continues to innovate to ship on its mandate and drive financial transformation.”
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