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FINANCIAL NEWS
Kuwait’s KIA has over USD24b investments in UK
30 Jun 2013
(MENAFN) The UK has seen more than double investments by the Kuwait Investment Authority (KIA) over the past 10 years, Reuters reported.
Bader Mohammed Al Saad, managing director of the KIA said the sovereign wealth fund has invested more than USD24 billion in the UK across all asset classes, sectors and industries, compared to USD9 billion 10 years ago.
Kuwait’s sovereign wealth fund, which manages state assets in the world’s fourth-biggest oil exporter, is the oldest sovereign fund tracked by the SWF Institute with an estimated USD342 billion in assets, one of the world’s largest.
Al Bader added that the Kuwait Investment Office (KIO), the fund’s main investment arm, now manages more than USD120 billion globally compared with only USD27 billion 10 years ago.
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