Middle East News: Kuwait Pension Fund to Triple Infrastructure Investments - Bloomberg:
Kuwait’s $112 billion pension fund is looking to more than triple investments in infrastructure as part of its asset-allocation strategy over the next couple of years.
“In infrastructure, we’re looking to build up aggressively,” Meshal Al-Othman, director general of the Public Institution for Social Security, said in an interview with Bloomberg TV on Tuesday. “We’re at 3% today. We’re taking that up to roughly 10%.”
It will also “slightly increase” investments in hedge funds and real estate, he said.
Al-Othman is part of a new management team brought in during 2017 to transform the state-owned institution after a corruption scandal involving a previous manager. The fund has since exited more than $20 billion in questionable deals in a major reorganization of its portfolio.
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