Saudi Arabia’s sovereign wealth fund, the Public Investment Fund, recently announced it purchased a combined holding of $1 billion in the gaming companies Capcom and Nexon. As a result, the PIF has acquired a stake of roughly 5% in both companies.
This is not the first time that the PIF has turned its focus on the world of gaming. The Public Investment Fund currently owns 5.6 million shares of Take-Two Interactive, which are worth almost $996 million. The PIF also owns $1.9 billion worth of shares in EA and $3 billion worth of shares in Activision-Blizzard.
The Public Investment Fund is a Saudi Arabian sovereign wealth fund with over $500 billion in assets. The fund was created in 1972 by the former king of Saudi Arabia, Faisal bin Abdulaziz Al Saud.