- London-based Kuwait Investment Office (KIO), the international arm of one of the largest sovereign wealth funds in the world has witnessed a substantial increase in assets under management. The AUM value has risen from $27 billion in 2003 to $250 billion this year, marking a significant growth in its London-based unit.
- Saad Al-Barrak, Chairman of KIA, reported the surge in AUM during the KIO's 70th-anniversary celebration in London. Founded in 1953, KIA is the oldest sovereign wealth fund globally, and it was noted earlier that the KIA holds approximately $803 billion in assets, positioning it as the fifth-highest globally and second in the Arab world by value.
Why it matters
This news highlights the remarkable growth of the Kuwait Investment Office's assets over the years, indicating successful management and investment strategies. The substantial increase from $27 billion to $250 billion underscores the fund's effective approach to wealth management and investment decisions. This surge in assets solidifies KIA's standing in the global financial landscape and the Arab region.