The "Global SWF" data platform, which tracks sovereign wealth fund activities, reported that the Kuwaiti investment office in London, a branch of the Kuwait Investment Authority, has appointed Abdul Mohsen Al-Mukhizim as its new CEO. Al-Mukhizim is currently the CEO of investments at "Wafra International Investment," a company affiliated with the Public Institution for Social Security. Previously, he served as the CEO of (NBK Capital Partners), the alternative investment arm of the National Bank of Kuwait.
The Kuwait Investment Authority, the sovereign wealth fund of the country, does not disclose information about its subsidiaries. However, "Global SWF" mentioned that the London office has been without a permanent CEO since July of last year, following the dismissal of the former CEO.
"Global SWF" stated on Thursday: "The position has been vacant since July 2022, when it was reported that the sovereign wealth fund dismissed Saleh Al-Otaibi, highlighting the possibility of internal divisions within the Kuwaiti fund," without delving into further details about the divisions.
The office manages part of the Future Generations Fund, which reserves money for the future when oil runs out in Kuwait. This includes a portfolio of securities and two affiliated companies in the real estate sector, namely the St. Martins Group and Calais Street, as well as an infrastructure unit (Rainhouse).
The International Monetary Fund predicted last summer that the Kuwait Investment Authority would hold assets just over $800 billion this year, making it the second-largest sovereign wealth fund among Gulf countries, after the Abu Dhabi Investment Authority. The office in London is the main international office and also oversees investments in the United States, with a branch office also located in Shanghai.
