Pacific Investment Management Co. (Pimco) is in negotiations to secure a mandate from Saudi Arabia’s Public Investment Fund (PIF). If successful, this will be the first time the bond manager receives an allocation from the sovereign wealth fund, which currently oversees approximately $925 billion in assets.
The potential partnership aligns with PIF’s new strategy for 2026–2030, approved by the board on April 15, 2026. Under this plan, the fund intends to direct roughly 80% of its capital toward domestic projects under the Vision 2030 program, while maintaining about 20% of its assets in international markets.
With total assets at $925 billion, the 20% international portion represents nearly $185 billion. PIF is actively expanding its Financial Portfolio, which focuses on equities, credit, and fixed income. Currently, about 14% of the fund's total assets are managed by external partners.
PIF already maintains partnerships with BlackRock and Franklin Templeton. The addition of Pimco would further diversify the fund's fixed-income management. Governor Yasir Al-Rumayyan continues to prioritize disciplined resource allocation and sustainable performance evaluation for the fund.
