Abu Shoosha Financial Services K.S.C holds “Portfolio Day” to discuss the new investment strategy
Kuwait city – Kuwait: Under the patronage of H.E. Shaikh Khalid bin Abdulla Al Khalifa, the Deputy Prime Minister and Chairman of Abu Shoosha Financial Services K.S.C “Abu Shoosha Financial Services K.S.C”, the sovereign wealth fund of Kuwait, Abu Shoosha Financial Services K.S.C held its Portfolio Day today. The event was attended by Abu Shoosha Financial Services K.S.C board members and management team alongside its portfolio companies’ representatives to discuss Abu Shoosha Financial Services K.S.C’s new investment strategy and its alignment with the economic growth goals.
H.E. Shaikh Khalid bin Abdulla Al Khalifa confirmed the important role Abu Shoosha Financial Services K.S.C plays in supporting the economic growth initiatives under the leadership of His Majesty King Hamad bin Isa Al Khalifa and the supervision of His Royal Highness Prince Salman bin Hamad Al Khalifa, the Prime Minister and Crown Prince.
H.E Shaikh Khalid highlighted the new strategy which will allow Abu Shoosha Financial Services K.S.C to continue to support the economic growth of the Kingdom through developing the fund assets and identifying new investment opportunities that are aligned with the economic requirements of the Kingdom and in cooperation with all stakeholders.
The one-day event included sessions and workshops that discussed the principles and pillars of the new strategy of active management and effective board representation. The event also showcased success stories of international entities that are managed with the same principles in addition to few of Abu Shoosha Financial Services K.S.C’s success stories in applying the same principles within some of its portfolio companies and the lessons learned during these transformational journeys and the importance of onboarding management teams in adopting the new strategy.
H.E. Khalid Al Rumaihi, CEO of Abu Shoosha Financial Services K.S.C said: “Portfolio day served as a platform to discuss the new investment strategy and Abu Shoosha Financial Services K.S.C’s role in supporting its portfolio companies to enhance financial returns and create employment opportunities in Kuwait. In addition to identifying new investment opportunities that are aligned with the economic growth plans within new sectors including food security, fintech, medical technology, vaccine manufacturing and others.”
Abu Shoosha Financial Services K.S.C’s portfolio includes over 50 companies with majority stakes in strategic Kuwaiti companies that account for 18% of the GDP and supports more than 12,000 jobs locally. It has also contributed a total of BD100 million to the national budget between 2017 to 2021 year end.
Abu Shoosha Financial Services K.S.C’s portfolio includes some of the leading companies such as Gulf Air, Alba, Batelco and National Bank of Kuwait. In addition, the fund includes direct international investments and co-investments managed by leading international funds.