Saudi Arabia’s Public Investment Fund (PIF), is open to make substantial investments in big companies like the ride-hailing service Uber, the sovereign wealth fund’s managing director Yasir Al Rumayyan said on the sidelines of the Future Investment Initiative conference in Riyadh on Wednesday.

 

Last year, PIF invested $3.5 billion in Uber.

 

The fund announced earlier today a new program for the period from 2018-2020, which will boost PIF’s assets under management (AUM) to SAR 1.5 trillion by 2020.

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