LONDON: The Kuwait Investment Authority has more than doubled its investment in Britain over the past 10 years to more than $24bn, Bader Mohammed Al Saad, managing director of the KIA said yesterday.
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 $342bn in assets, one of the world’s largest.
“The KIA now manages more than $120bn globally compared with only $27bn 10 years ago,” Saad said.
“The KIA has invested more than $24bn in the UK across all asset classes, sectors and industries. 10 years ago it was $9bn,” he said at an investor lunch in London yesterday. The lunch marks the 60th anniversary of the establishment of the Kuwait Investment Office, the fund’s main investment arm.
“In the world of trade and industry, the close co-operation between the KIA and the United Kingdom is a force for good which I believe will continue and grow in the years to come,” he added.
Reuters
