Kuwait pension fund plans to triple infrastructure investments

Kuwait pension fund plans to triple infrastructure investments

Kuwait pension fund will also 'slightly increase' investments in hedge funds and real estate

Kuwait's $112 billion pension fund is looking to more than triple investments in infrastructure as part of its asset-allocation strategy over the next couple of years.

“In infrastructure, we're looking to build up aggressively,” Meshal Al-Othman, director general of the Public Institution for Social Security, said in an interview with Bloomberg TV on Tuesday. “We're at 3% today. We're taking that up to roughly 10%.”

It will also “slightly increase” investments in hedge funds and real estate, he said.

Al-Othman is part of a new management team brought in during 2017 to transform the state-owned institution after a corruption scandal involving a previous manager. The fund has since exited more than $20 billion in questionable deals in a major reorganization