According to Global SWF’s July 2025 rankings, Saudi Arabia’s Public Investment Fund has risen one spot to fourth place among sovereign wealth agencies worldwide, with assets exceeding USD 1 trillion.
PIF now outperforms the Abu Dhabi Investment Authority and the Kuwait Investment Authority, and is only surpassed by Norway’s Government Pension Fund Global and two Chinese organisations, the State Administration of Foreign Exchange and the China Investment Corporation.
The updated rating highlights PIF’s expanding clout in international capital markets. The fund has been directed by Crown Prince Mohammed bin Salman to increase its assets to USD 2 trillion by 2030 while promoting economic diversification and producing long-term profits.
PIF’s assets under management climbed to USD 1.15 trillion in 2024, up from approximately USD 925 billion in 2024. However, net profit declined during the period due to rising operational costs, interest expenses, and asset write-downs linked to project delays and revisions, according to Global SWF.
As a result, the fund has changed its approach, emphasising liquidity through commercial paper and short-term sukuk while putting more of an emphasis on scalable, income-producing assets than expensive megaprojects. Increased investments in AI infrastructure, ETF platforms, and joint ventures with international asset managers are further components of this repositioning.
According to a recent Bloomberg article, PIF has spent almost USD 200 million in a prestigious Manhattan real estate project with Related Companies, highlighting its global aspirations. The fund intends to purchase a two-thirds interest in the 625 Madison Avenue property, which is close to Central Park and where a 1,200-foot tower is being considered.
The action demonstrates PIF’s desire for high-profile, long-term real estate in key international locations and expands on its previous relationships with Related, which included a 2020 loan investment.
The fund is active in a variety of industries, including technology, mobility, renewable energy, gaming, and sports, and it owns shares in well-known businesses across the globe, including Lucid Motors, Nintendo, Uber, and BlackRock.
Global SWF further claimed that PIF is shifting from a strategy that prioritises quick capital deployment to a more methodical approach that is concentrated on cost containment, financial sustainability, and producing quantifiable returns.