NBK Capital, one of the leading regional investment banks, has successfully launched the Kuwait Investment Opportunities Fund with assets under management of US$ 125 million. The Fund is focused on investing in private equity opportunities in Kuwait and is approved by the National Offset Company (“NOC”) as a vehicle for foreign contactors to fulfil their Offset obligations.
The investment strategy of the Fund is to focus on private equity investments in high-growth sectors such as education, healthcare, manufacturing, and technology within the State of Kuwait. The Fund will mainly invest in growth capital but will also participate in specific early-stage opportunities that offer a favourable risk/return profile. In addition, the Fund will actively pursue opportunities that will further the NOC’s objective to cultivate social, economic, and technological developments for the State of Kuwait.
The Fund will enable foreign contractors to transfer the burden of arranging their offset obligations to NBK Capital, relieving them of the requirement to invest resources in identifying, analysing, operating, monitoring and eventually exiting offset business ventures. NBK Capital has assembled a highly professional team skilled in the structuring of complex financial transactions with in-depth knowledge of the legal, administrative and market specifics of Kuwait.
Amjad Ahmad, Chief Executive – Investment & Merchant Banking, NBK Capital, said: “This is one of the first National Offset Company (NOC) approved funds in Kuwait and we are delighted to be involved in the development of strategic sectors in Kuwait through a proactive investment approach”.
“Our aim is to invest alongside solid partners and actively help them achieve their strategic and operating goals to build sustainable companies. The expertise of the Fund’s management team, supported by the full services of NBK Capital is a key asset and differentiator that will contribute to the success of each portfolio company within the Fund. .
Faisal Al-Hamad will be leading the Fund’s management team supported by a strong professional team with extensive local experience. He added, “Kuwait has benefited from strong economic growth in recent years as a result of the surge in oil prices and reinvestment of petrodollars and this, coupled with a substantial increase in government spending and an appealing demographic profile, has resulted in significant investment opportunities in Kuwait’s economy. NBK Capital is ideally positioned to partner with the NOC and advise foreign contractors in the Offset program that will in turn contribute to the development of Kuwait’s economy.”
