September 2022
26Sep

Officials Quit $137 Billion Pension Fund in Kuwait Shakeup

A broad shakeup of state institutions deepened in Kuwait after top officials in the Gulf state’s pension fund were asked to resign. Director General Meshal Al-Othman and three of his deputies, including Raed Al-Nisf, were asked to quit Kuwait’s Public Institution for Social Security (PIFSS). The officials had spent years revamping the roughly $137 billion fund, which owns a quarter of US private equity firm Stone Point Capital LLC. The shift comes ahead of parliamentary elections in the OPEC member state...

September 26, 2022
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June 2021
24Jun

Kuwait’s $134 Billion Pension Fund Has Record Gain in Turnaround

Kuwait’s Public Institution for Social Security had its best ever annual performance, emerging as a new regional investment powerhouse despite political deadlock in the country. The $134 billion pension fund, which owns a quarter of U.S. private equity firm Stone Point Capital LLC, recorded 20.9% growth in assets in the year ended March 31, according to a statement on Wednesday. A new management team was brought into the fund in 2017 to transform the state-owned institution after its former head was...

June 24, 2021
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November 2020

12Nov

Kuwait’s $124bn pension fund plans infrastructure boost

Kuwait’s $124bn pension fund, which posted a record first-half profit, plans to double its infrastructure investment and boost exposure to private equity, its director general said. The new plan, developed with US-based consultancy Mercer, will start next year and will “entail increasing infrastructure from 5 per cent to 10 per cent as well as fine tuning some of the other allocations,” Meshal Al-Othman, who heads the Public Institution for Social Security, said in an interview with Bloomberg TV on...

November 12, 2020
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