An investment group led by the Public Investment Fund (PIF), which also includes PCP Capital Partners and RB Sports & Media Investment Group, has completed the 100% acquisition of New Castle Football Club.
Who is affected🤷: The PIF was formed in 1971 with the intent to provide financing support for projects of strategic significance. It is one of the largest and most impactful sovereign wealth funds in the world. The PCP Capital Partners Group was founded in 2005 & has a strong investment record, serving as trusted partners to private and institutional investors, whilst financing UK assets over the last 15 years in off-market transactions. RB Sports & Media is a subsidiary of private equity & investment company, Reuben Brothers.
Why is this important🤔: The Saudi Public Fund is working on diversifying its investments & expanding its portfolio to achieve long-term gains. By searching for attractive strategic investment opportunities locally and internationally, it aims to achieve high returns and contribute to the process of economic transformation and diversification of income sources for the Kingdom.