Saudi Arabia’s Public Investment Fund (PIF) is holding meetings with Wall Street firms in New York this week to familiarize them with its portfolio, aiming to attract foreign backing for future projects. The $1 trillion fund will meet with major investors like Apollo and Blackstone but is not fundraising for a specific project at these meetings. PIF seeks to reduce its reliance on direct funding from the Saudi government due to financial constraints and to bring in more external scrutiny of its plans, following setbacks in high-profile investments such as LIV Golf and NEOM.
Written by the local model on 2026-09-15,
using this article's own text rather than the other coverage of the
same event (that is the story summary below).
Story summary
Saudi Arabia's Public Investment Fund (PIF) is planning meetings in New York with major Wall Street firms like Apollo, Blackstone, Brookfield, Carlyle, KKR, and Stonepeak this week. PIF's senior management, alongside representatives from its key companies such as AI firm HUMAIN, King Abdullah Financial District, and luxury hotel developer Red Sea Global, will participate. These meetings aim to familiarize investors with PIF's portfolio and lay the groundwork for future fundraising efforts rather than securing funding for specific projects. PIF, chaired by Crown Prince Mohammed Bin Salman, is worth nearly $1 trillion and seeks to attract foreign investment to reduce reliance on direct government funding.
Written for “Saudi Fund Raises Capital” on 2026-09-17,
grounded in this article and the 0 other(s) covering the same event.
Why this leaning score
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No political leaning scored for article 10681 · logged 2026-09-15
The Scoop
Saudi Arabia’s sovereign wealth fund is set to meet some of Wall Street’s biggest firms in New York this week as it seeks foreign backing for its spending plans amid cash constraints at home.
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it → set → home
Public Investment Fund’s senior management — along with representatives of some of its biggest companies including AI firm HUMAIN, Riyadh’s King Abdullah Financial District, and luxury hotel developer Red Sea Global — will be in New York later this week, according to people familiar with the matter.
uncertain
management → include → matter
They are expected to meet with investors including Apollo, Blackstone, Brookfield, Carlyle, KKR, and Stonepeak, as well as the US Export-Import Bank.
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They → expect → Apollo
The Saudi delegation is not fundraising for a specific project from the event, which is being arranged by US investment bank Lazard.
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which → fundraise → Lazard
The meetings are intended to familiarize investors with PIF and its portfolio, laying the groundwork for future debt or equity fundraising from global investors, the people said.
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people → intend → investors
PIF is ramping up efforts to attract foreign investors as it looks to reduce its reliance on direct funding and bring greater external scrutiny of its plans.
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it → ramp → plans
The nearly $1 trillion fund, chaired by Crown Prince Mohammed Bin Salman, has spent hundreds of billions of dollars over the past decade creating companies and developing real estate projects.
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fund → chair → projects
That spending was supposed to catalyze foreign investment into the kingdom, but so far the results have been short of Saudi expectations: the country attracted $32.6 billion in net inflows last year, still far from its target of $100 billion in FDI by 2030.
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country → suppose → 2030
Lazard declined to comment.
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Lazard → decline → ?
PIF didn’t respond to requests for comment.
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PIF → respond → comment
Know More
PIF’s latest five-year plan, unveiled earlier this year, emphasizes spending discipline, value realization from its portfolio, and attracting third-party capital.
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plan → know → capital
It said its 2026-2030 plan will be “underpinned by increasingly diversified financial returns, greater private sector and capital markets participation in Saudi Arabia, and continued operational and institutional excellence.”
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plan → say → Arabia
Reducing PIF subsidiaries’ dependence on state finances has long been part of the fund’s strategy.
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dependence → reduce → strategy
Weaning units off of state coffers has become more urgent given the slow uptick of FDI and runaway spending or over ambitious plans at several PIF companies.
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Weaning → wean → companies
Some of PIF’s most high-profile bets have been dramatically scaled back as a result.
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Some → scale → result
PIF pulled funding for the new golf tournament LIV Golf after it poured around $5 billion into the venture with no return.
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it → pull → return
NEOM, the vast real estate project on the kingdom’s west coast, has also been sharply scaled back after spending $64 billion with little to show for it.
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NEOM → scale → it
Other investments have made more progress.
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investments → make → progress
HUMAIN has signed partnerships with several US tech firms and says it is already attracting external financing for its data centers, while Red Sea Global has opened several luxury tourist resorts on the kingdom’s west coast and plans to expand to other markets.
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Global → sign → markets
Notable
- PIF is preparing to make a more aggressive push to sell mature assets, pursue listings and divestments, and finance more of its operations and investments with external capital, Bloomberg reported in August.
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Bloomberg → prepare → August
The Aporia
