Yasir Al-Rumayyan has explained Saudi Arabia's Public Investment Fund's (PIF) five-year strategy to increase its assets to $1 trillion.
The PIF, of course, had hoped to purchase an 80% stake in Newcastle United last year but the sovereign wealth fund encountered complications with the Premier League's owners' and directors' test after joining forces with Amanda Staveley and the Reuben Brothers.
ChronicleLive revealed on August 4 that the PIF would be prepared to revisit the bid if the top-flight were willing to give the deal the green light.
The PIF remain interested and Al-Rumayyan, the governor of the fund, will no doubt be keeping a close eye on Newcastle's legal battle with the Premier League.
Al-Rumayyan has already confirmed that the PIF intend to continue investing in projects around the world in the coming years with a particular focus on the 'best investments from a long-term perspective'.
In an interview with CNBC's David Faber, Al-Rumayyan was asked if the PIF simply needed to grow its assets or were significant contributions needed from the Saudi government in order for the sovereign wealth fund to hit the $1tn mark within five years.
"You just mentioned two of the things that we're planning to get to $1 trillion and $70 billion dollars to be exact," he said.
"We have grown our assets - that's the first thing. The second thing is whatever we are receiving from the government in the form of cash and other assets. The third thing is the dividends that we are getting from our investments and the fourth thing, of course, is the financing that we are getting and we have been very much active in financing.
"Having said all of these four elements, we are very much conservative in our books and I'll give just an example: the giga-projects, which is one of six different portfolios or pools of investments that we have.
"The PIF has three of the major projects like NEOM, the Red Sea project and Qiddiya as one riyal, which is practically nothing, so we're thinking in a few years, once parts of these projects get operational, all of these values will go higher."
