RIYADH — Saudi Arabia’s Public Investment Fund (PIF) announced on Thursday it has opened offices of new subsidiary companies in London, New York and Hong Kong. The move is expected to help in the Fund’s future international growth.

PIF is an active investor in some of the world’s most innovative and transformational industries and businesses – including in the UK, Europe, US, Asia and South America. The new subsidiary offices will further enable PIF to continue to work with its partners across regions globally while helping to transform global economies and drive the economic transformation of Saudi Arabia.

The opening of the subsidiary offices is in line with PIF’s growth strategy and reflects its commitment to its global partnerships and in investing in sectors, industries and companies that will shape the economies of the future.

PIF’s ongoing international expansion comes as the Fund continues to make strong progress against its Strategy 2021-2025. As part of this strategy, PIF plans to grow its assets under management to $1.07 trillion by the end of 2025 while continuing to create new sectors, companies and jobs.

A key element of PIF’s success has been the strategic economic partnerships it has developed with many of the world’s leading investors and businesses. — SG