Home News Saudi sovereign wealth fund buys $3bn stake in Nintendo

Saudi sovereign wealth fund buys $3bn stake in Nintendo

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Saudi sovereign investment fund Public Investment Fund (PIF) has acquired a 5% stake in Japanese game developer Nintendo. About this today, May 18, wrote The Wall Street Journal citing documents filed by PIF with the Japanese regulator, the fund held a 5.01% stake in Nintendo at the end of March.

This share is estimated at $3 billion. PIF notes in the submitted documents that the purchase was made for purely investment purposes and the fund is not going to influence the company’s development strategy in any way. PIF and Nintendo did not comment on these data.

Rising oil prices encourage more active PIF investment. The fund has previously invested in several game developers, an industry that has benefited from the pandemic and has shown good growth lately. PIF, among other things, owns stakes in the Japanese gaming companies Capcom and Nexon, as well as in the American Electronic Arts and Take Two Interactive Software. Earlier this year, the fund also announced the creation of a subsidiary, Savvy Gaming, to invest in the online gaming industry.


More news in Telegram channel “Kommersant”.

Yana Rozhdestvenskaya

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