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

Arab News, 25.10.2018

  • 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 Investment 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.