June 30 (Bloomberg) -- Kuwait Investment Authority, the country’s sovereign wealth fund, doubled investments in the U.K. over the last 10 years to more than $24 billion.
Investment in Britain was “across all asset classes, sectors and industries,” Managing Director Bader Al-Saad said in a speech in London on June 28. Kuwait Investment Office, the KIA’s London-based investment arm, now manages more than $120 billion globally compared with $27 billion 10 years ago.
“Alongside the real estate subsidiary, which manages our real estate assets, we have set up an infrastructure fund which we are operating from London,” Al-Saad said. The investment office “will be looking to manage more funds, in more asset classes, and in more regions of the world in the near future,” he said.
The KIA, which has about $342 billion of assets according to the Sovereign Wealth Fund Institute in California, holds stakes in Daimler AG and BP Plc. The fund manages Kuwait’s General Reserve Fund and Future Generations Fund, and invests in local, Arab and international markets.
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