Saudi Arabia’s sovereign wealth fund is to endorse Italian tennis player Matteo Berrettini in another brand investment, raising the asset owner’s profile.
The Public Investment Fund followed its announcement as the official partner of the men’s and women’s world tennis rankings earlier in the year, with news of its sponsorship of the Wimbledon finalist. PIF’s marketing team have already outlined a commitment to embracing sports sponsorship to support the fund’s four pillars of inclusivity, sustainability, youth and technology.
The fund has also been investing heavily in sports sponsorship has part of its marketing strategy in recent years, with investment in major world tennis events, the English Premier League and motor racing.
Earlier this year, the PIF was announced as the world’s most valuable sovereign wealth fund brand, according to research conducted by Brand Finance.
Speaking at the Global Wealth Conference in London’s Guildhall in May, David Haigh, chief executive of Brand Finance, explained that the study identified the PIF as one of the most valuable and strongest investment brands in the world.
“It’s like a Ferrari or a Rolls Royce in the fund management business,” he said. “It is known, very finely engineered and is going places.”
Haigh noted the PIF’s brand strength as an asset for supporting its investment strategy and its ability to facilitate recruitment in attracting top talent.
Speaking about the latest commercial partnership, Berrettini said it would afford him an opportunity to “inspire the next generation” in a post on social media.
“Together with the PIF I’m going to be able to do that. This is one of the greatest things I can do.”
The announcement follows Berrettini’s presence at the Diriyad Tennis Cup in Saudi Arabia in 2022.