Saudi Arabia’s sovereign wealth fund, Public Investment Fund, has emerged as the backer of the £4bn takeover of Selfridges.
The investment by the £500bn fund is seen as part of a shopping spree intended to increase its international clout and boost development of its economy.
PIF acquired an interest in the department store via the Austrian property company Signa Holding, which bought a 50% stake in Selfridges last August alongside Thai retailer Central Group.
The Weston family put the store up for sale following the death of Galen Weston.
