Industrial Bank of Kuwait boosts PE exposure

The bank will be committing capital to a further six to eight funds.

The bank expressed it is planning to invest a total of $40-50 million in six to eight private equity and infrastructure funds in the next 12 months. It will look into regions including North America, Europe, APAC or GCC markets through buyout, growth capital, venture capital or distressed strategies at different industries. For blind pool funds, it will only consider investing from its existing managers.

The bank’s current AUM is KWT624 million, with 10% allocated to alternatives, which includes private equity and infrastructure. The bank does not invest in real estate and private debt.

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