PIF's AuM hit SAR 3.39 trillion in 2025, with 211 portfolio companies driving 11% of Saudi non-oil GDP. The fund's 2026-2030 strategy targets value realization and competitive ecosystems.
The Public Investment Fund reported SAR 3.39 trillion in total assets under management as of 2025, Governor Yasir Al-Rumayyan said in the fund's annual report. The sovereign wealth fund's portfolio now includes 211 companies, contributing 11% of Saudi Arabia's non-oil gross domestic product.
Al-Rumayyan said the fund “successfully delivered on the objectives of its 2021–2025 strategy.” The next phase, the PIF 2026-2030 strategy, will focus on sustained value realization, competitive ecosystems, and maximizing long-term returns, he said. The fund aims to support Saudi Vision 2030.
PIF's credit profile strengthened. Moody's rates it Aa3, Fitch A+, and S&P assigned an inaugural A-1 short-term rating. That makes PIF one of the few sovereign wealth funds with ratings from all three major agencies.
“As PIF enters its new phase, we are focused on unlocking value at scale, strengthening performance across our portfolio and further elevating our position as a global, investment powerhouse,” Al-Rumayyan said.
Giga-projects advanced. NEOM's Oxagon progressed as the primary economic engine of the region, with the Green Hydrogen Project surpassing 90% completion after SAR 31.55 billion in investments. Diriyah secured SAR 6 billion in financing to support Wadi Safar expansion, alongside major cultural developments including the Royal Diriyah Opera House and the Misk Heritage Museum “Asaan.” Red Sea Global opened Shura Island and launched Red Sea Residences. Qiddiya reached milestones with Six Flags Qiddiya City and a new film production hub. ROSHN Group expanded its residential footprint, strengthening its position as Saudi Arabia's most valuable real estate brand.
Green bond proceeds totaled SAR 33.75 billion, allocated across 146 projects. The fund returned to the market in 2025 with a €1.65 billion green bond issuance that was more than six times oversubscribed. “These investments are expected to contribute to meaningful environmental outcomes, including avoided emissions, improved resource efficiency and expanded renewable energy capacity,” Al-Rumayyan said.
International investments grew 12% to SAR 663 billion. New offices opened in Paris, Beijing, and Shanghai. Agreements with global institutions, including Goldman Sachs Asset Management and Macquarie Asset Management, facilitated knowledge transfer and capability development. Moody's, which rates PIF Aa3, is one of the three rating agencies the fund works with.
Al-Rumayyan said PIF's global reputation strengthened as the world's most valuable sovereign wealth fund brand for the second year running. The fund scored 100% in the Global SWF Governance, Sustainability and Resilience rankings in 2025, up from 28% in 2020.
AI has been integrated across key business functions, including valuation, reporting and portfolio optimization, to enhance decision-making, Al-Rumayyan said. The fund invested in technology to reshape its operating models.
“Today, PIF is expanding its global impact with partners around the world to enable new industries, scale economic ecosystems, collaborate with new partners, and attract global talent and capital to co-invest in the unprecedented opportunities being unlocked across the Saudi economy,” he said.
The 2026-2030 strategy will focus on delivering competitive ecosystems, unlocking the full potential of PIF's assets, and driving operational excellence and institutional capabilities. Al-Rumayyan said the fund moves forward with determination and purpose, positioned to shape the next phase of Saudi Arabia's growth.
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