The Public Investment Corporation (PIC) is a South African state owned entity (SOC[1]) with R2.083 trillion (USD 150 Billion) of assets under management as of 31 March 2018.[2] It is Africa's largest asset manager.[3] Established in 1911, it holds large stakes in several South African companies, and is one of the entities through which the government implements its policy of Broad-Based Black Economic Empowerment.