PIF’s US unit starts hiring to grow investment portfolio: Report

Logo of Public Investment Fund (PIF)

USSA, the US subsidiary of the Public Investment Fund (PIF) is hiring from Wall Street firms and top hedge funds to manage its growing portfolio of investments in the country, Bloomberg reported.

In January, former Point72 Asset Management executive Jason Chung joined as head of the New York office of USSA International, the fund’s US arm, after spending almost 13 years at billionaire Steve Cohen’s hedge fund, according to LinkedIn. That month, Meredith Wood Doherty joined from investment firm Baillie Gifford as USSA International’s head of compliance and governance, her LinkedIn profile shows.

The PIF unit also recruited former Goldman Sachs Group alumni Mark Cranley and Vesa Helin as a senior economist and head of risk.

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Despite having a US team, the PIF’s headquarters in Riyadh is responsible for all of its investment decisions, Bloomberg added.