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    Home»Deals»Kuwait’s $134 billion pension fund has record gain in turnaround
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    Kuwait’s $134 billion pension fund has record gain in turnaround

    June 23, 20211 Min Read
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    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, recorded 20.9% growth in assets in the year ended March 31, according to a statement Wednesday.

    A new management team was brought into the fund in 2017 to transform the state-owned institution after its former head was found guilty of personally profiting from the organization over decades. Cash now accounts for 4% of its investments, down from about 11.5% a year ago.

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    Source: Pensions&Investments

    By Bloomberg

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