Saudi wealth fund plans to buy $10 billion in global stocks this year

Saudi Arabia’s sovereign wealth fund is planning to plow deeper into public markets this year by investing about $10 billion more into listed stocks, according to people familiar with the matter, as it pursues the goal of more than doubling its assets by 2025.

Chaired by Crown Prince Mohammed bin Salman, the Public Investment Fund is looking to buy global stocks based on a thematic strategy that focuses on areas including e-commerce and renewables, the people said, asking not to be identified as the information is private. 

The spending on global stocks is in addition to the fund’s direct investments in international