The sovereign wealth fund is a prominent investor in leisure and sports, among other sectors.
Golf Saudi has announced Public Investment Fund (PIF) as the new title partner of the renamed PIF Saudi Ladies International. The partnership also sees the prize money for the tournament reaching US$5 million, matching that of Golf Saudi’s equivalent men’s tournament - the PIF Saudi International presented by SoftBank.
The PIF Saudi Ladies International is underway at the Riyadh Golf Club with a new format, with tour professionals participating in both an individual and team competition.
PIF’s new investment is part of its broader commitment to women’s golf and sports in general. The sovereign wealth fund already serves as the presenting partner of the Aramco Team Series, a professional women’s golf competition that is part of the Ladies European Tour (LET). Last year, PIF and the Women’s Tennis Association (WTA) unveiled a multi-year partnership to grow women’s professional tennis, which made PIF the first-ever naming partner of the WTA Rankings.
