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Officials Quit $137 Billion Kuwait Pension Fund

  • Shift comes amid political pressure, before Thursday’s polls
  • Opposition MPs urging government to revamp state bodies
Top officials who cleaned up and rebuilt Kuwait’s Public Institution for Social Security have resigned. 

Top officials who cleaned up and rebuilt Kuwait’s Public Institution for Social Security have resigned. 

Photographer: Bassam Zidan Ahlawy/Bloomberg
Corrected

A broad shakeup of state institutions deepened in Kuwait after top officials in the Gulf state’s pension fund were asked to resign. 

Director General Meshal Al-Othman and three of his deputies, including Raed Al-Nisf, were asked to quit Kuwait’s Public Institution for Social Security (PIFSS). The officials had spent years revamping the roughly $137 billion fund, which owns a quarter of US private equity firm Stone Point Capital LLC.