| الهيئة العامة للإستثمار | |
 | |
 | |
| Agency overview | |
|---|---|
| Formed | 1953; 72 years ago (1953) |
| Headquarters | Kuwait Investment Authority Tower,Al Asimah 29°21′52″N47°58′36″E / 29.36444°N 47.97667°E /29.36444; 47.97667 |
| Agency executives |
|
| Parent agency | Ministry of Finance |
| Child agency |
|
| Website | www |
| AUM |  US$1.029 trillion (February 2025) |
|---|
TheKuwait Investment Authority (KIA) is the State ownedsovereign wealth fund of theState of Kuwait, managing the state's reserve and the state's future generation fund, also known as "Ajyal Fund".[1]
Founded in 1953, the KIA is the world's oldest sovereign wealth fund.[2][3] As of March 2025, it is the world's 5th largest sovereign wealth fund with currently US$1,029 billionassets under management.[4]
KIA was founded on 23 February 1953[5] to manage the funds of theKuwaiti Government in light of financial surpluses after the discovery ofoil.
KIA manages theKuwait General Reserve Fund, theKuwait Future Generations Fund, as well as any other assets committed by theMinistry of Finance. To put KIA's size into perspective, the Kuwait Future Generations Fund has 15% of annual oil revenues added to it.
The Chinese regulator awarded Kuwait Investment Authority an additional $700 million quota on top of $300 million awarded in March 2012. The quota is the highest to be granted by China to foreign investment entities.[6]
The Kuwait Investment Authority has an infrastructure arm and signed an agreement to acquire the oil and gas pipeline firm North Sea Midstream Partners Limited for approximately 1.3 billion GBP in 2018.[7]
In 1986, the KIA's London based subsidiary, the Kuwait Investment Office (KIO), bought control of Torras Hostench, a Spanish paper maker. Torras subsequently took over a number of other companies to become Grupo Torras in June 1988. KIO invested about $2.5 billion in building up the company and another $1.8 billion to shore it up after the end of Spain's 1980s economic boom and the annexation of Kuwait by Iraq. However, in December 1992 Grupo Torras entered receivership among accusations of fraud, and Kuwait's investment was a total loss. One of its projects was theGate of Europe twin towers in Madrid, which was still incomplete when the company collapsed.[8]
KIA established Cartera Central together two Spanish businessmen in the 1980s, which managed a 12.5% stake in Banko Central. KIA later sold their 48.8% stake in the company.[9][10]
In September 2006, KIA invested $720 million in theIndustrial and Commercial Bank of China.[11][12] During the global financial crisis in January 2008, KIA purchased preferred stock inCitigroup, at a reported value of $3 billion, which it sold for $4.1 billion in December 2009.[13][14] KIA also participated inMerrill Lynch's $6.6 billion preferred share issue in January 2008, with an estimated contribution of $2 billion.[15][16] In January 2009, KIA acquired a 16% stake inGulf Bank of Kuwait during their recapitalisation.[17] In 2009, KIA also invested $750 million inBlackRock.[18] In July of the same year, it sold its entire 19.8% holding inBoubyan Bank, which was bought by theNational Bank of Kuwait and the Securities Group.[19][20]
In 2010, KIA invested $800 million inAgricultural Bank of China,[21][22] as well as $1 billion inAIA Group.[23] In September of the following year, KIA invested $200 million inCITIC Securities Hong Kong listing.[24][25]
In July 2025, KIA sold AIA Group shares worth $3.4 billion,[26][27] as well asBank of America stock worth $3.1 billion.[28][29]
KIA'sboard of directors is headed by the minister of finance[30] with other seats allocated to theEnergy Minister, Governor of theCentral Bank of Kuwait, Undersecretary of the Ministry of Finance, and 5 other nationals who are experts in the field, 3 of which should not hold any other public office.[31]
Definitions from Wiktionary
Media from Commons
News from Wikinews
Quotations from Wikiquote
Texts from Wikisource
Textbooks from Wikibooks
Resources from Wikiversity