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Kuwait’s Finance Minister says KIA not to cut foreign investments

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Reuters reports that, “Kuwait’s sovereign wealth fund does not plan to reduce its overseas investments despite launching a 1.5 billion dinar ($5.17 billion) fund to invest in local stock markets, the finance minister said.

‘We won’t lower foreign investment,’ Mustapha al-Shamali told Reuters on the sidelines of an Arab economic meeting in Kuwait, when asked whether the Kuwait Investment Authority would scale back its foreign activities.

KIA, which manages the Gulf state’s massive oil-generated assets, has invested around the globe and last year bought into U.S. banks such as Citigroup Inc.

In December, it launched on behalf of the government a fund to stabilise the second-largest Arab bourse .KWSE, which fell 38 percent last year during a regional stock market rout triggered by the global financial crisis.”

read more: Reuters

CPPIB Tries Out CLO Equity Tranche Investing with Sound Point Capital

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Canada Pension Plan Investment Board (CPPIB) through its wholly-owned subsidiary, CPPIB Credit Investments Inc. (CPPIB Credit), is broadening its portfolio through new investments in equity tranches of collateralized loan obligations (CLOs) alongside experienced CLO asset managers. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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CalPERS Names Yu Ben Meng as Chief Investment Officer

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The California Public Employees’ Retirement System (CalPERS) announced that Yu Ben Meng has been selected as the pension fund’s new chief investment officer (CIO). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Ontario Nonprofit Network Awards Mandate to OPTrust

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The Ontario Nonprofit Network (ONN), a nonprofit network for the 58,000 nonprofits in Ontario, selected OPTrust to manage defined benefit assets. ONN selected OPTrust Select, the new defined benefit solution from OPTrust. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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