Saudi Arabia’s Public Investment Fund (PIF) has approved a new five-year strategy that will run from 2026 to 2030, according to a Wednesday press release.
The plan, endorsed by the PIF board, which is led by Crown Prince Mohammed bin Salman, will outline the manner in which the fund will structure investments as it embarks on the next phase of growth.
PIF stated that the new plan would prioritize greater efficiency of investments, increased long-term returns, and increased role of the private sector. The fund will also continue to invest its capital to fund the economic transformation and the Vision 2030 of Saudi Arabia.
Three portfolios shape the next phase
PIF announced that it will separate investments into three portfolios within the 2026-2030 plan. These are the Vision Portfolio, the Strategic Portfolio and the Financial Portfolio.
The Vision Portfolio will support domestic economic growth, the Strategic Portfolio will manage key assets and long-term trends, and the Financial Portfolio will focus on global market investments and sustainable returns.
The fund described this strategy as a continuation of its long-term plan, but with a stronger focus on value creation, governance, transparency, and institutional standards.
“The 2026-2030 strategy is a natural next step in PIF’s growth journey,” noted PIF Governor Yasir Al-Rumayyan.
He added that the plan offers partners more chances to invest alongside the fund in high-quality assets and ecosystems.
PIF will now tilt more of its activity toward the local economy. Al-Rumayyan told Al Arabiya Business that the fund wants local investment to account for 80 percent of the total, while international investment would account for 20 percent, down from earlier levels.
He also said the dollar amount invested abroad can still grow even if its share of the total declines. Moreover, that shift comes as Saudi Arabia looks for stronger non-oil growth and more efficient capital use.
Officials have been rethinking some high-cost giga-projects, with Al-Rumayyan saying The Line is no longer a priority within NEOM, though he said no projects had been canceled.
Six ecosystems sit at the center of the plan
PIF said the Vision Portfolio will support six domestic ecosystems. These are tourism, travel and entertainment; urban development and livability; advanced manufacturing and innovation; industrials and logistics; clean energy, water and renewables infrastructure; and NEOM.
The fund said this structure will help connect sectors, integrate investments, and create openings for private sector partners, suppliers, and investors.
Meanwhile, the Strategic Portfolio will manage assets that PIF sees as important to both returns and national development. PIF said this part of the portfolio will help its companies attract capital and grow into global champions, while also giving the fund room to invest in long-term global trends.
The Financial Portfolio will manage PIF’s direct and indirect investments in global markets. PIF said this portfolio will aim to grow national wealth for future generations, build a more resilient investment base, and strengthen international partnerships that can bring in capital and open more investment channels.
This structure also shows how PIF plans to balance domestic development with global exposure. The official release said the fund will keep investing in both local and international markets while using data and artificial intelligence more actively across its operations.
PIF points to growth under the previous strategy
PIF said the new strategy builds on gains made over the last decade. In its release, the fund said assets under management grew from $150 billion in 2015 to more than $900 billion. It also said it delivered an annualized total shareholder return of more than 7 percent since 2017.
The fund said it invested more than $199 billion in new Saudi projects from 2021 to 2025. It also said those efforts contributed more than $243 billion to Saudi Arabia’s real non-oil GDP from 2021 to 2024, which it said was about 10 percent of the country’s total non-oil GDP in 2024.
PIF also said it and its portfolio companies spent more than $157 billion with the local private sector from 2021 to 2024. It added that it expanded its global presence through offices in North America, Europe, and Asia, while maintaining strong credit ratings from Moody’s and Fitch with stable outlooks.
“PIF’s strategy continues to deliver results as we grow domestically and internationally,” noted Al-Rumayyan.
He said the fund had launched giga-projects, expanded real estate developments, and invested in sectors such as artificial intelligence, gaming and esports, and renewable energy.
AI and gaming deals show PIF’s wider reach
While the new plan puts more weight on domestic activity, PIF’s recent deal flow shows it still has a broad international profile. In February, Saudi AI company HUMAIN invested $3 billion in Elon Musk’s xAI as part of xAI’s Series E round.
HUMAIN said the investment gave it a minority stake, which later converted into SpaceX shares. HUMAIN was launched under PIF in May 2025.
That investment also fits the fund’s wider push into AI infrastructure. In January , HUMAIN, which is fully owned by PIF, had secured up to $1.2 billion to expand AI and digital infrastructure in Saudi Arabia and was expected to lead national efforts in that field.
PIF has remained active in the field of gaming as well. In September 2025, Electronic Arts announced a deal to be acquired by a consortium consisting of PIF, Silver Lake, and Affinity Partners in an all-cash transaction estimated to be worth approximately $55 billion. PIF will roll-over its current 9.9 percent stake in the transaction, EA said.