Saudi Arabia’s PIF appoints former executive chairman of DowDuPont as special adviser

Public Investment Fund (PIF) – Saudi Arabia’s sovereign fund – has named Andrew Liveris, the former executive chairman of DowDuPont, as a special adviser.

In this file photo, King Salman bin Abdul-Aziz Al Saud is being greeted by Andrew Liveris, chairman of Dow Chemical, in the presence of Amin Nasser, CEO of Saudi Aramco.
In this file photo, King Salman bin Abdul-Aziz Al Saud is being greeted by Andrew Liveris, chairman of Dow Chemical, in the presence of Amin Nasser, CEO of Saudi Aramco.

According to a statement issued by PIF, with this high-profile appointment, Liveris will work closely with the fund on matters of strategic importance, assist the fund in efforts to promote the value of its portfolio, and ensure the contribution of PIF companies to Saudi Vision 2030.

Liveris holds extensive experience working in the kingdom over the last two decades. Under his leadership as the chairman and chief executive, Dow Chemical worked with Saudi Aramco to develop the Sadara complex. Dow Chemical combined with DuPont in September 2017 to create DowDuPont.

Aiming to reach an asset portfolio of $400bn by 2020, PIF currently manages more than $250bn in assets. While PIF has made substantial overseas commitments, including a $45bn agreement to invest in a giant tech fund led by Japan’s Softbank and another $20bn committed to an infrastructure investment fund planned with Blackstone, more than half of its assets are tied up in huge Saudi Arabian companies.

To achieve the aspiration to become one of the largest sovereign wealth funds in the world, PIF is building a world-class, diversified portfolio through investments in attractive, long-term opportunities at both the domestic and international levels.

Recently, PIF announced the creation of an advisory board, comprising 11 of the most influential global executives from technology, finance and business, which will empower the ongoing development of the programme for the 2018 Future Investment Initiative.

The second edition of Future Investment Initiative is taking place in Riyadh during 23-25 October 2018 and will explore how investment can be used to drive growth opportunities, fuel innovation and shape future economies.

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