Riyadh - Sharikat Mubasher: Saudi Arabia’s Public Investment Fund (PIF) opened a new subsidiary company office in Paris to expand its global presence and deepen ties in France.

The opening ceremony, which coincides with the annual “Choose France” event hosted in Paris, will be attended by French President Emmanuel Macron, PIF Governor Yasir Al-Rumayyan, and other senior officials and business figures, the sovereign fund stated in a press release today.

The new office reflects PIF’s approach to engaging closely with local partners and will enable the fund to further strengthen its partnerships in the region.

The PIF has previously opened subsidiary company offices in New York, London, Hong Kong, and Beijing, and has approximately 220 portfolio companies.

Between 2017 and 2024, the PIF invested $84.7 billion across Europe, adding $52 billion to the continent’s gross domestic product (GDP) and creating over 254,000 direct and indirect European jobs. These investments included $8.6 billion in France, which added $4.8 billion to the nation’s GDP and created 29,000 direct and indirect jobs for the French economy.