The Public Investment Fund of Saudi Arabia (PIF) closed 2025 with a profit of €15 million, consolidating the growth of an entity that has become one of the main financial tools behind the country’s economic transformation. The result represents a significant increase compared with the previous year, while revenue reached €103 million, in a year also marked by the growth of its international investments and a portfolio of assets under management that reached €700 billion.
The growth in PIF’s accounts comes alongside a strategy that combines financial returns, investment diversification and the development of new sectors within Saudi Arabia. During 2025, the fund recorded expenses of €47.6 million, compared with €43.5 million the previous year, while between 2021 and 2025 it allocated €170 million to new projects. During the same period, its activities contributed more than €290 billion to Saudi Arabia’s real non-oil GDP, reflecting the weight the fund has acquired in the country’s economy.
PIF increases its assets and strengthens its international presence
PIF’s growth is not limited to its financial results. With €700 billion in assets under management in 2025, the fund continues to expand a portfolio covering strategic sectors both inside and outside Saudi Arabia. Its international expansion was particularly significant during the year, with the opening of new offices for its subsidiaries in Europe and Asia and entry into various strategic markets. This move resulted in a 12% increase in its international investments during the year, strengthening the global dimension the institution is seeking to achieve.
This evolution is part of a strategy that PIF itself links to the objectives of Vision 2030, the plan through which Saudi Arabia aims to reduce its economic dependence on oil and develop new sources of growth. The fund’s governor, Yasir Bin Othman Al-Rumayyan, has described PIF as one of the world’s most influential investors and has identified generating value at scale, strengthening portfolio performance and consolidating its international position among its priorities. Over the next five years, the entity aims to maximize and diversify sustainable financial returns through investments alongside leading global partners, while seeking to unlock the potential of the assets it already controls.
From football and golf to major sports infrastructure
Sport remains one of the main areas where PIF’s investment strategy can be observed. The fund has begun to adjust its position in some sports assets after years of strong expansion. In Saudi football, for example, it sold 75% of Al Hilal to Kingdom Holding Company, reducing its stake in one of the four clubs it had acquired as part of its strategy to transform the domestic competition. At the same time, PIF has also opened the door to greater private capital participation in Newcastle United, the Premier League club in which it retains an 85% stake and from which it is considering selling a 25% share.
The shift in strategy also extends to golf and new sports infrastructure. PIF stopped directly funding LIV Golf, the circuit it created in 2022, while its sports subsidiary Surj Investment launched Radia alongside Oak and Live Nation to support the management, commercialization and operation of sports venues in Saudi Arabia. This investment is closely linked to the projects the country is preparing for the 2034 FIFA World Cup, including Al-Qiddiya, a megacity designed around entertainment, sport and culture. Developed from scratch with an estimated budget of €34.5 billion, the project forms part of a large-scale transformation in which PIF combines financial investment with the development of new infrastructure and economic activities.
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