Saudi Arabia’s Public Investment Fund (PIF) has reduced its stake in Japan-based games company Nintendo (TYO: 7974) from 8.58% to 7.54%.
In total, the fund has made three investments in Nintendo stock:
— In May’22, PIF acquired its first 5.01% stake in the company;
— In Jan’23, the fund bought 1.06% more;
— In Feb’23, PIF increased its stake in Nintendo by 2.26% to 8.58%.
Despite trimming its stake, PIF remains one of the largest shareholders in Nintendo and continues to hold significant investments in the gaming industry.
Since 2020, PIF and its gaming subsidiary Savvy Gaming Group have allocated approximately $17.35B throughout 16 deals. We’ve gathered all the deals in the picture below:
Read more about PIF’s strategy in our analysis of Scopely’s acquisition. We also recommend you listen to the recent podcast by Deconstructor of Fun with Savvy Games Group’s CEO Brian Ward.
