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Saudi Arabias sovereign fund will also invest $45B in SoftBanks second Vision Fund

The sovereign fund of Saudi Arabia plans to invest $45 billion into the second SoftBank Vision Fund, two years after putting the same amount into the original $100 billion Vision Fund, Saudi Arabia Crown Price Mohammed bin Salman told Bloomberg in an interview on Friday.
When the first Vision Fund was announced, it was by far the biggest private equity fund ever created, but if SoftBank Group CEO Masayoshi Sons plans come to fruition, it will not be the last. Son told Bloomberg Businessweek last month that he wants to raise a new $100 billion fund every two or three years.
Saudi Arabias Public Investment Fund is anticipating a fresh influx of $170 billion over the next three to four years after selling its stake in Saudi Basic Industries, as well as the upcoming IPO of state-owned Saudi Aramco, said Prince Mohammed, who is also the PIFs chairman. The PIF, which has also made investments in Uber, Tesla and Lucid, has enjoyed a huge benefit from the first Vision Fund, he told Bloomberg.
We would not put, as PIF, another $45 billion if we didnt see huge income in the first year with the first $45 billion, Bin Salman said. He added that its investment in the first Vision Fund will help PIF achieve its new target of $600 billion in assets by 2020, up from the almost $400 billion it currently holds.
SoftBank Group has been contacted for comment.
SoftBank Group and Saudi Arabias other partnerships include a deal to build the worlds biggest solar plant for $200 billion. The PIF said earlier this month the plant is still going ahead despite a Wall Street Journal report that it had been shelved.
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