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Kuwait's Sovereign Wealth Fund Expands Its Operations In London
In recent months, the Kuwait Investment Authority's London arm has hired executives from Barclays plc and the Carlyle Group, as Kuwait's sovereign wealth fund seeks to grow its capital market investments.
According to a local Arabic newspaper, the Kuwait Investment Office selected Arne Hassell as a chief investment officer in November. Hassell previously worked at Barclays as the head of the information department and Goldman Sachs Group as the head of hedge fund strategies for Europe and Asia.
Bram Verster, a former Carlyle principal, has been named chief strategy officer, and Jupiter Asset Management's Ian Edwards has been named chief technology officer.
According to the sources, the Kuwait Investment Office has become more active in the capital markets in recent years, focusing on IPOs and pre-IPO opportunities. He is also an active real estate investor who is backing a significant project in Boston.
The London office employs roughly 100 people, and the fund is looking to hire more.
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