Saudi sovereign wealth fund has bought a big stake Boeing
Saudi Arabia's $300 billion sovereign-wealth fund has invested further into US corporations.
Q1 figures from the Public Investment Fund show fresh stakes taken in:
- Facebook, Disney , Marriott, Cisco Systems, Citigroup, Bank of America, & Boeing
(and others). The stake in Boeing was circa $714 million.
With oil prices weaker Saudi is accelerating diversification, buying in during Q1:
- "We actively seek strategic opportunities both in Saudi Arabia and globally that have strong potential to generate significant long-term returns while further benefiting the people of Saudi Arabia and driving the country's economic growth"
From filings with the US SEC, via a WSJ report, link is here for more (the Journal may be gated)