Saudi’s PIF acquires $1bn stake in Swedish gaming company Embracer

Saudi’s PIF acquires $1bn stake in Swedish gaming company Embracer

Public Investment Fund (PIF), the sovereign wealth fund of Saudi Arabia, has acquired a $1 billion stake, approximately 8.1 percent shares, of Embracer Group, a Swedish video game and media holding company.

The shares will be issued to Savvy Gaming Group, a games and esports-focused subsidiary of PIF. The acquisition will enable Embracer to establish a regional hub in Saudi Arabia and pave the way for future investments in the region. The acquired stake guarantees a weighty position in the company’s decision-making, and has become Embracer’s second-biggest shareholder.

Brian Ward

CEO – Savvy Gaming Group “Savvy Gaming Group has committed to invest heavily in the games and esports industry and to materially strengthen the global games community. This investment in Embracer Group is a starting point for a long-term commitment to the company. The Embracer team has built a truly unique and leading ecosystem of entrepreneurs and creators at a scale that we believe will continue to generate enormous value for the games community in the coming years. We are very much looking forward to strengthening our relationship and supporting Embracer as they execute their global strategy.”

“Over the past few years, Saudi-based entities have become one of the most significant investors in the