18/08/2026 02:49 AST
Saudi Arabia's Public Investment Fund reported a 9 percent rise in 2025 revenue to $120 billion, while net profit more than doubled to $17 billion, helped by contributions from maturing portfolio companies.
In its annual report, the sovereign wealth fund said assets under management exceeded $900 billion at the end of the year, up from about $530 billion in 2021 and $150 billion in 2015. PIF also achieved an annualized total shareholder return of 5.8 percent since 2017.
The stronger results come as PIF enters a new phase of its investment strategy focused on developing competitive domestic ecosystems, unlocking value from strategic assets and generating long-term returns.
In January, the Sovereign Wealth Fund Institute ranked PIF as the world's fifth-largest such body.
The report added that the fund demonstrated a strong domestic investment orientation, with 80 percent of its assets allocated within the Kingdom and 55 percent of its portfolio invested in alternative assets.
Maram Al-Johani, chief of staff and secretary general to the board at PIF, said: "Throughout 2025, PIF continued to drive Saudi Arabia's economic development and diversification through long-term investments and the launch of strategic companies."
She added: "PIF contributed 11 percent of Saudi Arabia's total non-oil GDP in 2025 and contributed more than $342 billion cumulatively from 2021-2025."
Al-Johani said the fund also expanded its international presence in 2025 through the opening of new subsidiary company offices in Europe and Asia and through targeted investments across key markets, resulting in a 12 percent growth in its international investments.
The official said PIF's progress was "underpinned by continued institutional excellence and robust governance frameworks" as PIF accelerated its evolution into a "fully digital-native, AI-enabled investment institution."
Shareholder returns
Total shareholder return in 2025 was positively driven by increased dividends from portfolio companies and returns from financial investments.
It was also impacted by downward movements in the valuations of some assets, as a result of wider market conditions, and as PIF continued to make long-term local investments to drive economic transformation.
Yasir Al-Salman, chief financial officer and acting head of Global Capital Finance Division at PIF described 2025 "as another defining year" for the fund.
"In 2025, PIF more than doubled net profit year on year and maintained its strong financial position with over $900 billion in assets under management," he said.
Al-Salman added: "PIF continued to deploy capital across priority sectors, with cumulative domestic deployment reaching more than $199 billion between 2021-2025 while deepening strategic international partnerships, including signing multiple agreements with the world's leading asset managers, in 2025."
PIF expanded its funding sources throughout the year, including through the issuance of a debut euro-denominated green bond and the establishment of a commercial paper program to provide flexible short-term finance.
The fund continued to hold strong long-term ratings with Moody's at Aa3 and a stable outlook and Fitch at A+ with a stable outlook.
PIF also secured an inaugural A-1 short-term rating from S&P, reflecting PIF's strong credit profile and reinforcing investor confidence.
Driving diversification
In 2025, PIF launched major firms including Humain, marking a major step in advancing AI capabilities, and Expo 2030 Riyadh Co., to build and operate Riyadh's Expo 2030 facilities as Saudi Arabia prepares to welcome the world.
PIF also continued to develop priority sectors and ecosystems and deepen private sector participation. From 2021 to 2025, PIF invested more than $199 billion in Saudi Arabia, as it continued to drive the country's economic transformation.
Expanding global reach
According to the report, PIF continued to deploy capital internationally across strategic sectors, including infrastructure, technology, advanced manufacturing and financial services, while continuing to bring capital, knowledge and expertise to Saudi Arabia.
It signed agreements with Goldman Sachs Asset Management, Macquarie Asset Management and SACE, among others, to mobilize capital and expand partnerships.
To deepen engagement in priority markets, PIF expanded its global presence with the opening of new subsidiary company offices in Paris, Beijing and Shanghai, adding to its existing footprint in London, New York and Hong Kong.
The fund also advanced institutional capabilities by launching 100 new digital applications and activating 43 high-impact AI-enabled solutions.
"Over the next strategic phase, PIF is evolving toward six interconnected domestic ecosystems to drive sustainable value, while investing internationally in high-conviction opportunities in long-term global trends," said Al-Johani.
Arab News
Please wait...
