Public Institution for Social Security Fund

Public Institution For Social Security Fund
Formation1976
HeadquartersKuwait City, Kuwait
Director general
Meshal Al-Othman
Websitewww.pifss.gov.kw

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]

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

The 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

  1. ^ a b "Public Institution For Social Security". www.pifss.gov.kw. Public Institution For Social Security. Retrieved 2023-12-11.
  2. ^ "Kuwait's $134 billion pension fund has record gain in turnaround". Pensions & Investments. 2021-06-23. Retrieved 2021-09-12.
  3. ^ "Kuwait's $134 Billion Pension Fund Has Record Gain in Turnaround". Bloomberg.com. 2021-06-23. Retrieved 2021-09-12.
  4. ^ "Kuwait's Pension Fund Has Record Gain in Turnaround". pension policy international.
  5. ^ "Kuwait pension fund posts record first-quarter investment profit". Arabianbusiness. Arabianbusiness.