The fund is an active investor in other industries and businesses RIYADH: Saudi Public Investment Fund, known as PIF, has opened three new subsidiary companies’ offices in London, New York and Hong Kong in line with its global expansion plans. The new subsidiary companies’ offices will enable the sovereign fund to work with its partners globally, enabling an economic transformation of Saudi Arabia, it said in a statement. The fund is an active investor in other industries and businesses, including in the UK, Europe, US, Asia and South America. As part of PIF’s 2021-2025 strategy, it plans to grow its assets under management to $1.07 trillion by the end of 2025, while continuing to create new sectors, companies and jobs.