PIF Reports $913 Billion in Assets Under Management, 19% Growth in 2024

Riyadh, August 13, 2025 (Saudi Arabia Breaking News) – The Public Investment Fund (PIF) reported a 19% increase in assets under management to $913 billion in 2024, highlighting its role in driving Saudi Arabia’s economic transformation and generating sustainable returns.

According to PIF’s 2024 annual report, the sovereign wealth fund achieved an average total portfolio return of 7.2% since 2017, with total revenue rising 25% year-on-year. The fund’s cash position remained strong, reflecting what it described as robust liquidity.

PIF’s cumulative contribution to the Kingdom’s real non-oil GDP between 2021 and 2024 reached $243 billion, representing 10% of the national non-oil economy.

PIF Chief Financial Officer Yasir A. AlSalman said the growth reinforced the fund’s position as one of the world’s largest sovereign wealth funds. “Capital deployment across priority sectors reached $56.8 billion in 2024, bringing cumulative investment since the beginning of 2021 to more than $171 billion,” he said.

PIF Acting Chief of Staff and Secretary General to the Board Maram Al Johani said the fund ended 2024 with 225 portfolio companies, of which 103 were created by PIF. She noted that the fund completed 58 digital projects, launched 15 new applications, and automated more than 477 processes during the year as part of its transition from digital transformation to digital leadership.

The report also showed that PIF raised $9.83 billion in public debt and $7 billion in private debt in 2024. Moody’s upgraded the fund’s rating to Aa3 from A1 with a stable outlook, while Fitch affirmed its A+ rating, also with a stable outlook.

PIF achieved a 96% score on Global SWF’s 2024 Governance, Sustainability and Resilience Scoreboard and tied for first place globally in 2025 with a 100% score. Brand Finance ranked PIF as the most valuable and fastest-growing brand among all sovereign wealth funds, with an A+ rating.