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PIF launches SAR 4bn Jada fund

PIF launches SAR 4bn Jada fund
The new fund of funds company has a capital of more than $1 billion

Riyadh – Mubasher: The Saudi Public Investment Fund (PIF) has launched new fund of funds company, under the name Jada.

The Saudi Arabia’s sovereign wealth fund launched the new SAR 4 billion ($1.07 billion) company on Wednesday.

The fund of funds was first announced in October 2017 to support small and medium-sized enterprises (SMEs).

PIF expects major economic outcomes from the new company, in terms of creating jobs and supporting the Saudi private sector.