The Public Investment Fund (PIF; Arabic: صندوق الإستثمارات العامة) is the sovereign wealth fund of Saudi Arabia. It is among the largest sovereign wealth funds in the world with total estimated assets of at least $500 billion. It was created in 1971 for the purpose of investing funds on behalf of the government of Saudi Arabia.
It has been characterized as among the least transparent sovereign wealth funds in the world. In 2016, the Wall Street Journal noted that none of the fund's investments were named. The organization's activities have stirred controversy due to its relationship with the Saudi Arabian government and its human rights record. Some of PIF's assets were transferred to the organization in 2017 after the Saudi regime conducted a purge whereby assets of 400 of Saudi Arabia’s richest individuals were seized by the regime.
In 2021, PIF led a consortium that purchased Premier League club Newcastle United Football Club. The takeover sparked condemnation by human rights organizations. The other 19 Premier League clubs condemned the Saudi takeover of Newcastle, stating that it damaged the brand of the Premier League.
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