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Kuwait’s KIA to Move Oversight of $7 Billion Fund Out of London

  • Fund’s management to be reallocated to Kuwait following losses
  • Move comes two months after head of London unit was ousted
Kuwait Investment Authority’s London offices.
Kuwait Investment Authority’s London offices.

Source: Bloomberg

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The Kuwait Investment Authority is planning to reallocate management of a $7 billion loss-making fund to the Gulf state from the UK, months after it ousted the head of its London arm, people familiar with the matter said.