Saudi Arabia's Public Investment Fund (PIF) has seen a six-fold increase in assets in the last ten years on the back of aggressive domestic investment.

The sovereign fund's assets under management (AUM) surged from $150 billion in 2015 to $900 billion in 2026, according to the fund's governor, Yasir Al-Rumayyan.

The growth was driven by strong investment in the Kingdom, with the fund rolling out new projects worth more than $199 billion over the same period.

In the last several years, the fund launched giga-projects across various sectors, including artificial intelligence, gaming, esports and renewable energy, as the kingdom pursued its Vision 2030 to diversify its economy.

Another growth driver was the transfer of high-value assets to the sovereign fund.

As part of the structural shifts, significant portions of state-owned oil giant Saudi Aramco's shares were transferred to the sovereign fund, boosting PIF's AUM.

Capital recycling also drove asset growth, such as the sale of stakes in established entities like SABIC to Aramco, enabling the fund to channel the capital into new projects. 

Since 2017, the sovereign fund has also delivered more than 7% annualised returns for its shareholders. 

From 2021 to 2024, the fund contributed more than $243 billion to the country's real non-oil GDP, which accounted for about 10% of the total non-oil GDP recorded in 2024.

(Writing by Cleofe Maceda; editing by Seban Scaria) seban.scaria@lseg.com