About public investment fund (pif) is building a world-class domestic and international investment portfolio, and is positioned to be transformed into the world’s largest sovereign wealth fund. Background the public investment fund was originally established in 1971 to invest in commercial projects. In addition to making select investments in a range of companies and assets domestically and internationally. The fund has contributed to the establishment of numerous saudi arabian companies, supporting innovation, diversification and non-oil sector development in the kingdom. In march 2015, the council of ministers issued a decree to transfer oversight of the public investment fund to the council of economic and development affairs (ceda). A new board of directors was appointed, chaired by his royal highness crown prince mohammed bin salman bin abdulaziz, chairman of ceda.
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