 |
 |
Kuwait fund invested in BlackRock eyes emerging markets in 2010
February 1, 2010
Kuwait Investment Authority (KIA) invested about US$750 million in US asset manager BlackRock last year, and eyes investments in Asia and Latin America in 2010, reported Reuters, citing KIA's managing director.
Speaking in an interview with Al Arabiya TV aired on Sunday, Bader al-Saad said: "Last May we invested in raising BlackRock's capital, I think US$750 million...and I think until now we made 40% of profit."
Kuwait's sovereign wealth fund, which manages state assets in the world's fourth-biggest oil exporter, has come under fire from some parliamentarians for investing US$5 billion in Citigroup and Merrill Lynch. Merrill Lynch has since been bought by Bank of America.
In December, KIA sold its US$3 billion stake in Citigroup Inc for a profit of US$1.1 billion.
Original Posting At: BusinessIntelligence
Speaking in an interview with Al Arabiya TV aired on Sunday, Bader al-Saad said: "Last May we invested in raising BlackRock's capital, I think US$750 million...and I think until now we made 40% of profit."
Kuwait's sovereign wealth fund, which manages state assets in the world's fourth-biggest oil exporter, has come under fire from some parliamentarians for investing US$5 billion in Citigroup and Merrill Lynch. Merrill Lynch has since been bought by Bank of America.
In December, KIA sold its US$3 billion stake in Citigroup Inc for a profit of US$1.1 billion.
Original Posting At: BusinessIntelligence
|
