As Saudi Arabia's sovereign wealth fund gets ready to stage its big investment showcase in Riyadh this week, in the shadow of the fallout from the Jamal Khashoggi case, a recent list compiled by Reuters shows that the kingdom’s global influence stretches far beyond just oil and into a whole range of countries and sectors, from fast foods brands in Kuwait and online shopping in Dubai to hotels in France and Hollywood talent agencies in the United States.

Saudi Arabia issued a statement on Saturday that missing journalist Khashoggi died in a fight inside its Istanbul consulate, while the kingdom’s justice minister stated in a separate statement that the matter would be investigated by the Saudi courts, due to the fact the incident took place on Saudi sovereign territory. (Read more here).

The United Arab Emirates on Saturday backed Saudi Arabia's statement, the official news agency WAM said, adding the emirates "commends directives and decisions of Saudi King Salman on the issue of Kashoggi". (Read more here).

The Saudi stock index traded very narrowly on Thursday as fears partially eased that Khashoggi’s disappearance could damage the market by hurting foreign investment. The stock market impact was reduced as state-linked Saudi funds bought blue chips in a support operation after the market plunged earlier last week, Reuters reported. (Read more here).

The case has spurred a diplomatic crisis for Riyadh officials and several high-profile tech, finance and media personalities have dropped out of Saudi Arabia’s second annual conference, the Future Investment Initiative (FII), dubbed “Davos in the Desert.”

The event, due to take place this week (October 23-25) in Riyadh, is being organised by the kingdom’s sovereign wealth fund, the Public Investment Fund (PIF). PIF has a network of investments around the world worth more than $100 billion.

Below is a list, compiled by Reuters, of some of PIFs global and regional commitments since 2015:

* PIF acquired 38 percent of POSCO, a South Korean steelmaker, in February 2015, in a deal worth $1.36 billion.

* PIF signed an agreement in July 2015 with the Russian Direct Investment Fund to jointly invest up to $10 billion, without specifying each party's contribution or where the investments would be made. In 2017, Russia's energy minister said the two had invested $1 billion in nine joint projects.

* In October 2015, PIF signed an agreement with France to invest $2 billion in French private funds focused on renewable energy and small and medium industries. A French statement said PIF was also in "final negotiations" to provide $3 billion to Coface, the French credit insurer, for export financing.

* In April 2016, PIF signed an agreement with Egypt to create a $16 billion investment fund, without elaborating on each party's contribution.

* PIF acquired a five percent stake in Uber worth $3.5 billion in June 2016. It was the fund's first major investment and widely seen as a signal of its new tech-focused strategy.

* PIF acquired a 10.1 percent stake in German shipping company Hapag-Lloyd worth $755.25 million in July 2016. The acquisition was the result of a merger of Hapag-Lloyd and United Arab Shipping Company (UASC), in which PIF already held a stake.

* PIF invested $500 million in November 2016 in Middle Eastern e-commerce venture Noon.com, founded by Dubai billionaire Mohammed Alabbar.

* PIF planned to buy a 50 percent stake in Adeptio, the Gulf-based firm which controls Kuwait Food Co (Americana), in a deal worth $2 billion, Reuters reported in November 2016. No information was ever publicly disclosed about the deal.

* PIF pledged $45 billion to a technology-focused investment fund with Japan's SoftBank Group in May 2017, creating the $100 billion SoftBank Vision Fund. This year, SoftBank's chief executive said that a "Vison Fund 2" would be launched that could again count the PIF as an investor.

* PIF signed a memorandum of understanding with U.S. private equity firm Blackstone in May 2017, committing up to $20 billion to a $40 billion fund focused on U.S. infrastructure.

* PIF announced plans at last year's FII in October 2017 to invest $1 billion in British billionaire Richard Branson's space company Virgin Galactic and sister companies The Spaceship Company and Virgin Orbit. On Thursday, Branson suspended his directorship in two Saudi tourism projects and halted Virgin Group's talks on the Saudi investment.

* PIF signed a memorandum of understanding (MOU) in December 2017 with U.S.-based movie exhibition company AMC Entertainment Holdings, which had plans to set up theaters in Saudi Arabia. The value of the deal has not been made public.

* PIF invested $461 million in Magic Leap, a U.S.-based augmented reality startup, in March 2018.

* PIF signed an MOU with Endeavor, one of Hollywood's biggest talent and event managers, in March to take a $400 million stake, Bloomberg and Wall Street Journal reported. On October 15, the Hollywood Reporter reported that Endeavor was pulling out of its deal with the kingdom in the wake of Kashoggi's disappearance.

(Read the full list here).

Further reading
• Saudi courts will look at Khashoggi case - justice minister
• UAE voices support for Saudi king's statement on journalist's death - WAM
• Mideast Stocks: Saudi trades in tiny range as fears over Khashoggi case abate
• Saudi sovereign funds investments abroad 
• UK trade minister Fox has pulled out of Saudi investment summit - BBC
• SoftBank anxiously monitoring Saudi Arabia situation - executive
• Saudi Arabia's oil weapon doesnt work - Kemp

(Writing by Shane McGinley; Editing by Imogen Lillywhite)
(shane.mcginley@refinitiv.com)

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