Saudi wealth fund Public Investment Fund (PIF) announced the opening of a new subsidiary company office in Paris, expanding its global presence and deepening ties in France.
The new office reflects PIF’s approach to engaging closely with local partners, leading businesses and institutional investors, the fund said.
French President Emmanuel Macron and PIF Governor Yasir Al-Rumayyan were among the dignitaries expected to attend the opening ceremony, which coincides with the annual “Choose France” event hosted in Paris.
The addition of Paris aligns with PIF’s strategy to drive global economies and lead the economic transformation of Saudi Arabia, the fund said.
The new office will enable PIF to further strengthen its partnerships in the region, it added.
PIF has previously opened subsidiary company offices in New York, London, Hong Kong and Beijing, and has approximately 220 portfolio companies.
As one of the world’s most impactful investors, PIF has created more than 1.1 million direct and indirect jobs domestically and globally.
PIF said it is also committed to building new partnerships with a diverse range of leading international institutions.
PIF, an active, long-term investor in the world’s most innovative and transformational industries, businesses and markets, invested $84.7 billion across Europe between 2017 and 2024, the fund said.
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