Sovereign Wealth Fund of Saudi Arabia is on the U.S. Buying Spree

2022.08.16 14:23

Sovereign Wealth Fund of Saudi Arabia is on the US Buying Spree

By Senad Karaahmetovic

Saudi Arabia’s Public Investment Fund (PIF), the sovereign wealth fund that manages around $620 billion in assets, has bought shares in Alphabet (NASDAQ:GOOGL), Zoom Video (NASDAQ:ZM), and Microsoft (NASDAQ:MSFT).

PIF appears to be on a shopping spree as it also acquired shares in JPMorgan (NYSE:JPM), BlackRock (NYSE:BLK), and Starbucks (NASDAQ:SBUX).

The market valuation of PIF’s investment portfolio exceeded $40 billion at the end of the second quarter.

Last year, PIF led a consortium of companies that acquired the English Premier League football club Newcastle United for $409 million.

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