Saudi Arabia’s Sovereign Wealth Fund is being purchased by the US Spree by

© Reuters. Saudi Arabia’s Sovereign Wealth Fund is on the cusp of buying from the US

By Senad Karaahmetovic

The Public Investment Fund of Saudi Arabia (PIF), a sovereign wealth fund that manages approximately $620 billion in assets, has acquired shares of Alphabet (NASDAQ:), Zoom Video (NASDAQ:) and Microsoft (NASDAQ : ).

PIF seems to be on a shopping spree as it also acquired shares of JPMorgan (NYSE:), BlackRock (NYSE:) and Starbucks (NASDAQ:).

The market valuation for PIF’s portfolio surpassed $40 billion at the end of the second quarter.

Last year, PIF led a consortium of companies that acquired English Premier League football club Newcastle United for $409 million.

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