Saudi PIF Opens Paris Office, Aims to Double Europe Investments

Saudi Arabia’s sovereign wealth fund is opening a subsidiary office in Paris as it seeks to deepen ties with France and double investment in Europe by 2030.

The expansion by the Public Investment Fund adds to global offices in New York, London, Hong Kong and Beijing, according to a statement Monday. French President Emmanuel Macron was expected at the opening ceremony, along with other senior officials.

The announcement follows comments over the weekend from PIF Governor Yasir Al-Rumayyan that the fund plans to grow its European investments and procurements to $170 billion by the start of the next decade. The ...