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07 January 2020
BUSINESS

Kuwait’s KAMCO completes merger with Global Investment House

KAMCO Investment Company (KAMCO) and Global Investment House (Global) commenced merger talks in May 2019 and the tie-up is the largest of its kind in Kuwait’s investment scene.

KAMCO Invest has approximately $13.7 billion assets under management/Shutterstock

by Kudakwashe Muzoriwa

Kuwait’s Kamco Investment Company has unveiled its new identity, KAMCO Invest, following the merger with Global Investment House, as the non-banking financial powerhouse seeks to expand its client base through a wider range offerings and investment solutions.

Faisal Mansour Sarkhou, the Chief Executive Officer of KAMCO Invest, said, “KAMCO Invest will offer clients an integrated set of investment solutions, a wealth of expertise and advanced systems that are in line with the best international standards within this sector.”

Sarkhou emphasized that the merger comes at a crucial phase in the company’s implementation of its growth and expansion strategy which was initiated back in 2014.

A local daily, Kuwait Times, reported that KAMCO Invest has approximately $13.7 billion assets under management invested in various asset classes and jurisdictions. In an Asset Management report, Moody’s ranked the firm as the fifth largest asset manager in the GCC region.

KAMCO Invest stated that the company will increase the size of its AUM while benefitting from the positive market growth witnessed by both the local and regional markets.

The merged entity is the largest asset management and investment banking firm in Kuwait, in terms of assets under administration and management totalling $13.7 billion across funds and segregated accounts.


RELATED STORIES: KAMCO Investment Company KAMCO Invest Global Investment House M&A


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