This time one year ago Saudi Arabia’s Public Investment Fund (PIF) was a name barely recognized outside the kingdom. Since then, the sovereign wealth fund has been thrust into the limelight due to the central role it is set to play in the planned execution of Aramco’s IPO in late-2018. But it has already started to carve out its own investment strategy on the international stage, and in the process, garnered considerable cachet.

The revenue generated from the 5% share listing of...