Saudi Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud (colloquially known as MBS) is the chairman of PIF. : Saudi Arabia’s Public Investment Fund (PIF) will invest Rs 9,555 crore ($1.29 billion) for 2.04 per cent equity stake in Reliance Industries’ (RIL’s) retail arm. This investment values Reliance Retail Ventures (RRVL) at a pre-money equity value of Rs 4.587 trillion ($62.4 billion). The firms said the investment would further strengthen PIF’s presence in India’s dynamic economy and promising retail market segment.