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Saudi Arabia’s $400 Billion Wealth Fund Invests In EA, Activision Blizzard, And Tackle-Two

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Saudi Arabia’s $400 Billion Wealth Fund Invests In EA, Activision Blizzard, And Tackle-Two

Saudi Arabia’s Public Funding Fund has disclosed its newest investments, and they embrace deal of gigantic-name gaming companies.

The PIF spent $1.06 billion to operate 7.4 million shares in Digital Arts, on the side of 14 million shares of Activision Blizzard, at a cost of $1.4 billion. The fund also increased its stake in Rockstar Games guardian company Tackle-Two Interactive to spherical out its gaming investments.

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As analyst Matthew Kanterman reported on Twitter, with these novel investments, the PIF now holds about 2% of Activision Blizzard shares, 2.6% of EA, and 3.5% of Tackle-Two.

Gaming companies cling uniquely benefitted from the COVID-19 pandemic that has saved folks in their homes, having fun with more video games and spending additional cash on them. Stock costs across EA, Activision, and Tackle-Two–correct to name a pair of of the publicly traded on-line game shares–cling risen sharply within the past three hundred and sixty five days.

The Saudi Sovereign Wealth Fund (PIF) bought novel stakes in $ATVI $EA and $TTWO price about 25% of its listed equities portfolio in 4Q. Stakes account for about 2% of ATVI shares, 2.6% of EA and 3.5% of TTWO

— Matthew Kanterman, CFA (@theKantoarbot) February 17, 2021

The PIF is among the many largest such wealth funds within the world, with its accounts totalling around $400 billion correct now. The group is taking a see to develop the scale of its portfolio to more than $1.07 trillion by the terminate of 2025, in step with Markets Insider.

Crown Prince Mohammed bin Salman runs the account and has announced his design for the oil-prosperous kingdom to strive and form a brand novel image for itself amid claims of its “habit” to oil. Diversifying its portfolio for the wealth fund is seemingly a step against doing that.

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Saudi Arabia’s $400 Billion Wealth Fund Invests In EA, Activision Blizzard, And Tackle-Two