Kuwait???s Public Institution for Social Security had its best ever annual performance, emerging as a new regional investment powerhouse despite political deadlock in the country.<\/p>\n\n\n\n
The $134 billion pension fund, which owns a quarter of U.S. private equity firm Stone Point Capital LLC, recorded 20.9% growth in assets in the year ended March 31, according to a statement on Wednesday.<\/p>\n\n\n\n
A new management team was brought into the fund in 2017 to transform the state-owned institution after its former head was found guilty of personally profiting from the organization over decades. Cash now accounts for 4% of its investments, down from about 11.5% a year ago.<\/p>\n\n\n\n
The performance reflects the fund???s ???robust??? investment policy and the record performance of capital markets, said Director General Meshal Al-Othman. ???The management follows a conservative investment strategy well positioned to absorb and overcome expected fluctuations in international markets in the medium-term,??? he said.<\/p>\n\n\n\n
PIFSS, as the fund is known, also owns 25% of Oak Hill Advisors and 10% of TowerBrook Capital Partners LP.<\/p>\n\n\n\n
Kuwait???s $134 Billion Pension Fund Has Record Gain in Turnaround<\/p>","protected":false},"author":4,"featured_media":634,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36],"tags":[],"class_list":["post-633","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\n