Saudi Arabia's Public Investment Fund (PIF) is exploring new fundraising structures, including securitisations of portfolio company cash flows and minority stake sales, as it seeks to attract private capital and reduce reliance on its own balance sheet, according to a report by Reuters.

The sovereign wealth fund, which manages more than $900bn, is evaluating ways to generate liquidity from existing investments while continuing to finance the kingdom's Vision 2030 economic diversification programme. Potential measures reportedly include selling holdings in mature businesses and attracting external investors to support younger portfolio companies.

The shift comes amid tighter liquidity conditions in Saudi Arabia's banking sector, weaker regional IPO activity and mounting pressure for portfolio companies to become financially self-sufficient. Early discussions with prospective investors have reportedly encountered challenges over valuations and control rights, while the fund's annualised total shareholder return since 2017 declined to 5.8% at the end of 2025, from 7.2% a year earlier.

PIF's 2026–2030 strategy places greater emphasis on realising investment value and attracting private sector participation. Recent transactions include the sale of a 70% stake in football club Al Hilal to Kingdom Holding Company and a 49% stake in artificial intelligence business Humain to Saudi Aramco, which will inject $2.6bn into the company this year.