Northern Trust, PIF deepen partnership to advance Saudi capital markets

Northern Trust Asset Management, a global leader in investment management, and the Public Investment Fund (PIF) expanded their strategic partnership to support the growth and development of Saudi Arabia’s capital markets and asset management sector.

The partnership now includes a new systematic quantitative investment strategy for the Saudi market.

According to a joint statement received by Argaam, the announcement is part of the ongoing strategic collaboration between Northern Trust and PIF.

In May 2025, both parties signed a non-binding memorandum of understanding (MoU)to foster growth in the capital markets and asset management sector by launching investments targeting the Saudi market, with a total value of up to $1 billion, which they are currently working to implement.

The announcement was made on the sidelines of the ninth edition of the PIF Asset Management Forum, held as part of the ninth Future Investment Initiative (FII 2025) in Riyadh.

The statement highlighted that the partnership reflects Northern Trust’s long-term commitment to the Saudi market and its close cooperation with PIF to promote the growth and development of the Kingdom’s capital markets, while advancing innovation in related financial products.

Northern Trust manages approximately $43 billion in quantitative investment strategies across equities and fixed income. The company has been serving clients in the Middle East for 35 years and earlier this year announced the expansion of its asset management operations in Saudi Arabia.

The PIF is one of the world’s most influential investment institutions, working to accelerate the growth and development of Saudi Arabia’s financial markets ecosystem, shape the future of the global economy, enhance returns, and drive the Kingdom’s economic transformation.

The new strategy adopts a systematic investment approach that integrates data science, technology, and quantitative models to identify optimal opportunities in the Saudi financial market. It leverages innovation and research insights to deliver performance aligned with risk-adjusted returns, market efficiency, and transparency.