KIA investment in UK soars to $24bn
Kuwait, June 29, 2013
The Kuwait Investment Authority (KIA) has more than doubled its investment in Britain over the past 10 years to more than $24 billion, said its top official.
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 $342 billion in assets, one of the world's largest.
The Kuwait Investment Office (KIO), the fund's main investment arm, now manages more than $120 billion globally compared with only $27 billion 10 years ago, remarked Bader Mohammed al-Saad, managing director of the KIA.
"The KIA has invested more than $24 billion in the UK across all asset classes, sectors and industries. 10 years ago it was $9 billion," stated Al Saad at an investor lunch in London on Friday.
The lunch marks the 60th anniversary of the establishment of the KIO. "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.
The KIO has around $9.24 billion invested in equities according to Thomson Reuters data, with stakes in companies including BP , Vodafone and HSBC.-Reuters
Tags: Kuwait Investment Authority |
More Finance & Capital Market Stories
- BIBF signs deal with Palestinian institute
- Bahrain’s GDP set to expand 12pc
- KFH-Bahrain rebrands priority banking
- Bank Nizwa wins top Islamic bank award
- Qatar labour costs may jump: IMF
- Kuwait Q3 trade surplus hits $23bn
- Dubai trade growth up 7.6pc to $362bn
- Deloitte appoints new managing director
- Al Ramz tops UAE trading in Feb
- IFC in $150m loan deal with Bank Audi
- SME funding focus for Abu Dhabi forum
- Insurance House posts second year of profit
- ETF global assets hit record $2.44 trillion
- Bahrain firms plan IPOs
- Serbia wins $1bn Abu Dhabi loan
- Key equity banker resigns from Saudi Fransi
- DMCC to boost Islamic commodity trade with tie-ups
- IDB, KIA units to invest in Morocco
- First Gulf to set up $1bn sukuk in Malaysia
- Singapore’s UOB Bullion and Futures joins DGCX
- Infrastructure investment ‘key to growth’
- BKIC declares 30pc dividend
- StanChart profit falls 16pc in 2013
- Veteran Saudi banker to head AMF
- Dubai World prepays $284m to creditors
- EFG-Hermes sells Damas stake to Mannai
- Ultra rich number to grow 35pc in Mideast
- Saudi IPO market 'set for big year'
- RAK 'exploring' ceramics unit stake sale
- Bahrain Bourse wins key UK award