PIFSS to invest $6 billion into funds in the next three quarters
July 29, 2020
According to an article published by Arabian Business, Kuwait’s Public Institution for Social Security (PISS) posted a record first-quarter investment profit of $7.3 billion in the three months through June 2020, up 60% on the same period last year. PISS has over $112 billion in assets as of March 2019, including a 25% stake in US private equity firm Stone Point Capital, and a 10% stake in New York-based buyout firm TowerBrook Capital Partners.
The article went on to note that PISS intends to reduce cash available for investments from 11.5% by the end of June, to 4% by the end of March 2021, indicating an intention to invest $6 billion in the next three quarters.
Read the original article on Arabian Business: Kuwait pension fund posts record first-quarter investment profit