Saudi Arabia’s Public Investment Fund (PIF) has opened an office in Paris, the US$685 billion sovereign wealth fund’s second office in Europe after London.
The opening ceremony was attended by French President Emmanuel Macron and Yasir Al-Rumayyan, governor of PIF, and other senior officials, the wealth fund says in a statement on May 19.
According to PIF, the Paris office reflects its approach of engaging closely with local partners, leading businesses and institutional investors. “This new office will enable PIF to further strengthen its partnerships in the region.”
The wealth fund says it has invested $84.7 billion across Europe over the last seven years, including $8.6 billion in France, leading to the creation of more than 254,000 jobs, 29,000 of them in France.
Its other overseas offices are in New York, Hong Kong and Beijing.
