The Public Institution For Social Security (PIFSS; Arabic: المؤسسة العامة للتأمينات الاجتماعية) is the public pension fund of the state of Kuwait. It was founded in 1976 and counts 11 subsidiaries and 45 documented transactions.[1] In 2021, its cash reserves accounted to 4% of its investments down from 11.5% in 2020.[2]
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| Formation | 1976 |
|---|---|
| Headquarters | Kuwait City, Kuwait |
Director general | Meshal Al-Othman |
| Website | www |
The current worth of the assets of the PIFSS is estimated at $134 billion.[1] It recorded its best ever annual performance year in 2021, recording a 20.9% growth in its assets.[3][4]
Investments
editThe pension fund owns 25% of the U.S. private equity firm Stone Point Capital, 25% of Oak Hill Advisors and 10% of TowerBrook Capital Partners.[5]
References
edit- ^ a b "Public Institution For Social Security". www.pifss.gov.kw. Public Institution For Social Security. Retrieved 2023-12-11.
- ^ "Kuwait's $134 billion pension fund has record gain in turnaround". Pensions & Investments. 2021-06-23. Retrieved 2021-09-12.
- ^ "Kuwait's $134 Billion Pension Fund Has Record Gain in Turnaround". Bloomberg.com. 2021-06-23. Retrieved 2021-09-12.
- ^ "Kuwait's Pension Fund Has Record Gain in Turnaround". pension policy international.
- ^ "Kuwait pension fund posts record first-quarter investment profit". Arabianbusiness. Arabianbusiness.