PIF assets rise to $580 bln after transfer of 4% of Aramco shares; ranks 6th globally

Saudi Arabia’s Public Investment Fund (PIF) advanced to the sixth position among the world’s largest sovereign wealth funds (SWFs) in February 2022, recent data from SWF Institute showed.

The Kingdom’s sovereign wealth fund’s assets increased by $100 billion to $580 billion this month, compared with $480 billion at the end of 2021.

This came after Crown Prince Mohammed bin Salman announced, on Feb. 13, the transfer of 4% of Saudi Aramco’s shares to PIF.

Elsewhere, Norway’s Government Pension Fund Global came on top position in the list, with assets standing at $1.400 trillion.

China Investment Corporation (CIC) came in second with $1.222 trillion worth of assets, followed by Kuwait Investment Authority ($737.9 billion).

The combined assets of the sovereign wealth funds hit $9.83 trillion in February, compared with $9.53 trillion at the end of 2021.