The Kuwait Investment Authority (KIA) is focused on private equity funds instead of bonds, Badr Al Saad, the head of Kuwait's sovereign wealth fund, said yesterday.
Mr Al Saad said that the KIA has been investing in private equity funds where the returns are good and is shunning bonds because interest rates are so low.
"We have been investing in private equity funds lately … the returns are good," he said in rare public comments about the KIA's investment strategy. He named Texas Pacific Group and CBC as two of the funds the KIA has been investing in.
Kuwait puts money in funds, not bond market - The National
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