FII wants a foot on every continent, says Richard Attias

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The Future Investment Initiative wants a foothold on every continent as it seeks to cement its position as a global platform, FII chairman Richard Attias has told AGBI.

Ahead of the organisation’s conference in Rome, Attias said the international expansion was intended to broaden its reach and dispel perceptions that it is an extension of Saudi Arabia or its Public Investment Fund.

“Many times, the media call FII the ‘PIF conference’ or the ‘Saudi conference’, which is not the case,” he said.

The Rome conference, which runs until June 19, is being held at the Cavalieri, a Waldorf Astoria hotel in the hills above the Italian capital.

From the lobby’s floor-to-ceiling windows, attendees have a panoramic view of the city. The green hills and palazzo-style apartment blocks below are a world away from Riyadh, where the FII Institute has hosted its flagship conference since 2017.

The media often calls FII “Davos in the desert”, in reference to the World Economic Forum gathering. The FII has never embraced the moniker – “It’s not in the desert and it’s not Davos,” Attias once told a reporter – but comparisons between the events, which both centre around panels of business and political leaders discussing hot topics, continue.

Of those topics, “50 percent remain the same,” said Attias, citing the FII’s perennial interest in issues such as finance, energy and education.

In recent years, other subjects have been added to the roster. “Sport, investment in entertainment, investment into security, investment in renewable energy.

“And, of course, AI.”

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These are topics that align well with the priorities of the Saudi government as it navigates the artificial intelligence boom, preparations to host the 2034 World Cup and the conflict in the region.

Saudi Arabia’s military spending jumped 26 percent year on year in the first quarter, after Iran fired a barrage of missiles and drones at GCC countries. Analysts have suggested this figure could rise further, with the war pushing defence up the agenda for Gulf governments.

The conflict has created concern for some of Saudi Arabia’s priority investment sectors, such as AI and digital infrastructure, into which it is hoping to attract more foreign funding. Saudi Arabia wants annual investment flows to triple to $100 billion by 2030. In this effort, it appointed former PIF official Fahad AlSaif as its new investment minister in February.

As with previous FII conferences in the Americas and Asia – and its first European conference in Albania last year – speakers from the Public Investment Fund feature heavily. The Saudi sovereign wealth fund is a founding partner in the organisation.

Attias says a number of African countries have offered to host the first FII event in Africa, something it is currently looking into.

“FII will continue to grow,” said Attias, who has stepped aside as caretaker CEO of FII following the permanent appointment of Princess Maha Al Saud, a medical doctor and member of the Saudi royal family.

The US-Israeli war with Iran has taken its toll on the events sector across the Gulf, with a wave of cancellations and postponements.

‘We are extremely resilient’

Attias insists that FII remains largely unaffected by the conflict. “We are extremely resilient,” he said. The institution has not announced any changes to its 10th edition of FII in Riyadh, which is scheduled for October 26 to 29.

An agreement that could end the war is due to be signed by the US and Iran on Friday, which Attias says is reason for hope. “The markets have already shown great optimism,” he said.

Although the Saudi Exchange has grown by more than 5 percent since the start of the year – largely on higher oil prices and a rally by state-owned oil giant Aramco – other regional exchanges have not fared so well.

Across the GCC, new listings have slowed to a trickle. The Saudi market is on track to record the lowest amount raised by initial public offerings in the first half of any year since 2018. Only two companies went public in the first half of 2026, raising a combined $122 million. A number of businesses have cancelled or postponed their listings.

Richard Attias & Associates, the company that produces the FII conferences, is pursuing an IPO in the kingdom, Attias confirmed. Reports about a listing plan emerged last year.

The company has now submitted its request to the Saudi Capital Markets Authority, Attias said, although he suggested a listing might not be imminent.

“I discovered that going to an IPO is a very long process,” he said. “This is taking months.”

It depends on when it receives permission from the CMA and when its financial advisers think the timing is right.

“They will decide when will be the best time to do it,” said Attias. “There is no rush.”